Income Tax: Tax Slab And Rate For Taxpayers Of Bangladesh

Honorable Minister Mr Abul Maal Abdul Muhit, Ministry of Finance, Government of the People’s Republic of Bangladesh presented the budget for the fiscal year 2013-14 on 06 June 2013.

 

In this post, I only showed Income tax slab for individual taxpayers and rates applicable for all taxpayers for 2013-14.

 Individual Tax Rates and Income Slabs:

On 1st Tk. 2,20,000 of taxable income       Tax Rate:  Nil
On next Tk. 3,00,000 of taxable income    Tax Rate: 10%
On next Tk. 4,00,000 of taxable income    Tax Rates:15%
On next Tk. 3,00,000 of taxable income    Tax Rates: 20%
On the balance of taxable income                  Tax Rates: 25%

Women’s and Senior Citizens taxpayers aged over 65 years minimum tax slab Tk. 2,50,000.- and Physically challenged taxpayers minimum slab Tk. 3,00,000.-

Minimum Tax for Individual Taxpayers Based on Location:
City Corporation Area              Tk. 3,000.-
Paurashava at District Town  Tk. 2,000.-
Upazillas                                         Tk. 1,000.-

Tax Rebate on Investment for Individual:
Investment Ceiling in Taka 1.50 Crore
Investment Ceiling as percentage of total income -30%
Percentage of Tax Rebate -15%

Income Tax for Salaried Individual:
Income Tax Return                                             -2 pages 
Adjustment of Tax Payable on Salary Income     -Adjustable
with other tax 
(Deducted/Collected at Source) 
Tax -exempted House Rent allowance for             Tk. 240,000.-
Salaried Taxpayers
Tax -exempted Conveyance Allowance                 Tk. 30,000.-

Tax Rate for Company:

Publicly Traded Company                          Rate 27.50%(Subject to Certain Conditions)

Non-Publicly Traded Company                Rate 37.50%

Bank, Insurance and Financial Institution  Rate 42.50%
(Other than Merchant Bank)

Merchant Bank                                        Rate 37.50%

Publicly Traded Cigarette Mfc. Co.          Rate 40.00%

Non Publicly Traded Cigarette Mfc. Co.  Rate 45.00%

Publicly  Traded Mobile Phone Co.          Rate 40.00%

Non Publicly Traded Mobile Phone Co.   Rate 45.00%

Dividend Income                                      Rate 20.00%

Proposal of Capital Market:
Tax deductible at source on the premium over face value   – Nil
of share of a Company.
Tax deductible at source on bond sale                               – Nil
Tax rebate on the investment in Private Mutual fund           – 15%
Tax exempted dividend income threshold                           – 10,000.-

 For more information see full budget speech 2013-14: BUDGET 2013-14

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