Tax Structure in Bangladesh
Tax Structure in Bangladesh
Friday, 20 February 2009 01:24 Rabiul Islam
A. Individual Tax: | Individual Tax Structure | Income Year 2005-2006 (Assessment Year 2006-2007) | Income Slabs | Tax Rate | On the first Tk 1,20,000 of total income | Nil | On the next Tk 2,50,000 of total income | 10% | On the next Tk 3,00,000 of total income | 15% | On the next Tk 3,50,000 of total income | 20% | On the balance of total income | 25% | Non-Resident assessee | 25% | Minimum Individual Tax | Tk 1,800 | Minimum Tax: Sponsor or shareholder director of a company | Tk. 3,600 | Government Authority: National Board of Revenu | B. Corporate Tax: | Corporate Tax | Company | New Rate AY 2006-07 | Publicly Traded Companies (other than Banks, Insurance & Financial Institutions): | - | Normal Tax Rate (paying Dividend 10% or more) | 30% | Additional Tax if the declared dividend/bonus share is not declared or distributed at least 15% within 6 months of the following income year | 5% on undistributed profit | Companies declaring dividend less than 10% | 40% | Rebate @ 10% on applicable tax in case where dividend is more than 20% | 10% | Banks, Insurances and Financial Institutions: | - | Corporate Tax | 45% | Excess Profit Tax (additional)-for banks only | 15% (on excess profit) | Companies Not Publicly Traded | 40% | Textile Industries SRO 219/IT/2004, 13th July 2004 | 15% | Jute Industries SRO 218/IT/2004, 13th July 2004 | 15% | Industries set up between 1st July 2002 and 30th June 2005 and not applying for Tax Holiday. (This rate will continue for 5 years) SRO 177/IT/2002, 3rd July 2002 | 20% | Government Authority: National Board of Revenue | *** Income tax is levied on all companies and individuals for the previous year and payable for the year of assessment of fiscal year (July to June). If a company adopts an accounting period different from the fiscal year, the business period is a 12 month accounting period
Friday, 20 February 2009 01:24 Rabiul Islam
A. Individual Tax: | Individual Tax Structure | Income Year 2005-2006 (Assessment Year 2006-2007) | Income Slabs | Tax Rate | On the first Tk 1,20,000 of total income | Nil | On the next Tk 2,50,000 of total income | 10% | On the next Tk 3,00,000 of total income | 15% | On the next Tk 3,50,000 of total income | 20% | On the balance of total income | 25% | Non-Resident assessee | 25% | Minimum Individual Tax | Tk 1,800 | Minimum Tax: Sponsor or shareholder director of a company | Tk. 3,600 | Government Authority: National Board of Revenu | B. Corporate Tax: | Corporate Tax | Company | New Rate AY 2006-07 | Publicly Traded Companies (other than Banks, Insurance & Financial Institutions): | - | Normal Tax Rate (paying Dividend 10% or more) | 30% | Additional Tax if the declared dividend/bonus share is not declared or distributed at least 15% within 6 months of the following income year | 5% on undistributed profit | Companies declaring dividend less than 10% | 40% | Rebate @ 10% on applicable tax in case where dividend is more than 20% | 10% | Banks, Insurances and Financial Institutions: | - | Corporate Tax | 45% | Excess Profit Tax (additional)-for banks only | 15% (on excess profit) | Companies Not Publicly Traded | 40% | Textile Industries SRO 219/IT/2004, 13th July 2004 | 15% | Jute Industries SRO 218/IT/2004, 13th July 2004 | 15% | Industries set up between 1st July 2002 and 30th June 2005 and not applying for Tax Holiday. (This rate will continue for 5 years) SRO 177/IT/2002, 3rd July 2002 | 20% | Government Authority: National Board of Revenue | *** Income tax is levied on all companies and individuals for the previous year and payable for the year of assessment of fiscal year (July to June). If a company adopts an accounting period different from the fiscal year, the business period is a 12 month accounting period