National Board of Revenue (NBR) organizes tax fair from 17-22 September 2011 in all divisional headquarters to provide one-stop service for submission of return and getting TIN certificate and payment of tax. NBR also celebrate National Income Tax Day-2011 on 15 September 2011.
Income tax authorities in Bangladesh are National Board of Revenue, Director-General of Inspection (Tax), Commissioner of Taxes, Director General (Training), Director General of Central Intelligence Cell (CIC) and additional employees of taxes.
For the purpose of computation of total income and charging tax thereon, sources of income is classified into 7 categories of the population. These are salaries, interest on securities, income from house property, income from agriculture, income from business or profession, capital gains and income from other sources.
For individuals other than female, senior taxpayers of 65 years above related taxpayers, tax payable for the
|Level of Income||Tax rate|
|up to taka 1,8000||0%|
|Taka 1,80,001 - 4,80,000||10%|
|Taka 4,80,001 - 8,80,000||15%|
|Taka 8,80,001 - 11,80,000||20%|
|Above 11,80,000 taka||25%|
For female taxpayers and senior taxpayers of age 65 years and above tax payable for the income up to Taka 2,00,000 and retarded taxpayers be tax payable for the income up to Taka 2,50,000. Minimum tax for any individual assessee is Taka 2,000. Non-resident individual pay tax at 25%, other than non-resident Bangladeshi.
For the companies tax imposed at as following:To impose a reduced rate of 5 per cent tax on the income from fisheries, poultries etc. irrespective of individual and company taxpayers. Small farmers, having no other source of income, need not have to pay tax on such income not exceeding taka 1,80,000.
|Company Types||Tax rate|
|Publicly traded company||27.5% (condition applies)|
|Non-publicly traded company||37.5%|
|Bank, Insurance and Financial Company||42.5%|
|Cigarette production company||42.5%|
|Mobile Phone Operator Company||45%|
To ensure environment-friendly industrialisation, to resolve problems relating to energy, electricity and population explosion, tax holiday incentive is proposed up to June, 2013. These 17 types of companies are:
- Active pharmaceuticals ingredient industry and radio pharmaceuticals industry
- Barrier contraceptive and rubber latex
- Basic chemicals or dyes and chemicals
- Basic ingredients of electronic industry
- Computer hardware
- Energy efficient appliances
- Insecticide or pesticide
- Processing of locally produced fruits and vegetables
- Radio-active (diffusion) application industry
- Textile machinery
- Tissue grafting.
- Rapid transit
- Toll road
- Elevated expressway
- Deep sea port
- IT parks
- Hi-tech park
- Renewable energy (energy savings bulb, solar energy panel, windmill)
- ICT village or software technology zone.
The return shall be accompanied by a statement of deduction or collection of tax along with copy of treasury challans or payment orders. Tax shall be deposited to respective account code according to the following:
|Name of the Zone||Income tax-Companies||Income tax-other than Company|
|Taxes Zone-1, Dhaka||1-1141-0001-0101||1-1141-0001-0111|
|Taxes Zone-2, Dhaka||1-1141-0005-0101||1-1141-0005-0111|
|Taxes Zone-3, Dhaka||1-1141-0010-0101||1-1141-0010-0111|
|Taxes Zone-4, Dhaka||1-1141-0015-0101||1-1141-0015-0111|
|Taxes Zone-5, Dhaka||1-1141-0020-0101||1-1141-0020-0111|
|Taxes Zone-6, Dhaka||1-1141-0025-0101||1-1141-0025-0111|
|Taxes Zone-7, Dhaka||1-1141-0030-0101||1-1141-0030-0111|
|Taxes Zone-8, Dhaka||1-1141-0035-0101||1-1141-0035-0111|
|Taxes Zone-1, Chittagong||1-1141-0040-0101||1-1141-0040-0111|
|Taxes Zone-2, Chittagong||1-1141-0045-0101||1-1141-0045-0111|
|Taxes Zone-3, Chittagong||1-1141-0050-0101||1-1141-0050-0111|
|Large Taxpayer Unit||1-1145-0010-0101||1-1145-0010-0111|
|Central Survey Zone||1-1145-0005-0101||1-1145-0005-0111|