For individuals other than female taxpayers, senior taxpayers of 65 years and above, retarded taxpayers and gazetted war-wounded freedom fighter, income tax is payable for the
| Tax Slab |
Tax Rates 2015-16 |
| (a) First Upto TK 2,50,000 |
Nil |
| (b) Next Upto TK 4,00,000 |
10% |
| (c) Next Upto TK 5,00,00 |
15% |
| (d) Next Upto TK 6,00,000 |
20% |
| (e) Next Upto TK Rs. 30,00,000 |
25% |
| (f) On Balance Amount |
30% |
For female taxpayers, senior taxpayers of age 65 years and above, income tax is payable for the
| Tax Slab |
Tax Rates 2015-16 |
| (a) First Upto TK 3,00,000 |
Nil |
| (b) Next Upto TK 4,00,000 |
10% |
| (c) Next Upto TK 5,00,00 |
15% |
| (d) Next Upto TK 6,00,000 |
20% |
| (e) Next Upto TK Rs. 30,00,000 |
25% |
| (f) On Balance Amount |
30% |
For retarded taxpayers, tax free income threshold limit
is TK.3,75,000/-.
For gazetted war-wounded freedom fighters, tax free income
threshold limit is Tk. 4,25,000/-.
Minimum tax for any individual assessee living in Dhaka and Chittagong City Corporation area is Tk. 5,000/-.
Minimum tax for any individual assessee living in other City Corporations area is Tk. 4,000/-.
Minimum tax for any individual assessee living in any other
areas is Tk. 3,000/-.
Non-resident Individual 30% (other than non-resident
Bangladeshi)
| Particulars |
Tax Rates 2015-16 |
|
| i. |
Publicly traded company |
25% |
| ii. |
Non Publicly traded Company |
30% |
| iii. |
Bank, Insurance & Financial institutions (Except Merchant bank): -Publicly listed and 4th generation Banks & FI -Other Banks & FI |
40% 42.5% |
| iv. |
Merchant Bank |
37.5% |
| v. |
Cigarette Manufacturing Company / Others |
45% |
| vi. |
Mobile Phone Operator Company |
45% |
| vii. |
Publicly traded mobile company |
40% |
Lowest Individual Tax Rate is 10% and Highest Rate is 30%
For individuals other than female taxpayers, senior taxpayers of 65 years and above, retarded taxpayers and Gazetted war-wounded freedom fighter, income tax payable for the
| Tax Slab |
Tax Rate |
| (a) First Upto TK 2,20,000 |
Nil |
| (b) Next Upto TK 3,00,000 |
10% |
| (c) Next Upto TK 4,00,00 |
15% |
| (d) Next Upto TK 5,00,000 |
20% |
| (e) Next Upto TK Rs. 30,00,000 |
25% |
| (f) On Balance Amount |
30% |
For female taxpayers, senior taxpayers of age 65 years and above, income tax payable for the
| Tax Slab |
Tax Rate |
| (a) First Upto TK 2,75,000 |
Nil |
| (b) Next Upto TK 3,00,000 |
10% |
| (c) Next Upto TK 4,00,00 |
15% |
| (d) Next Upto TK 5,00,000 |
20% |
| (e) Next Upto TK Rs. 30,00,000 |
25% |
| (f) On Balance Amount |
30% |
For retarded taxpayers, tax free income threshold limit is TK.3,50,000
For Gazetted war wounded freedom fighters, the threshold limit is Tk. 4,00,000/-
Minimum tax for any individual assessee living in City Corporation area is Tk. 3,000
Minimum tax for any individual assessee living in District headquarter is Tk. 2,000
Minimum tax for any individual assessee living in any other area is Tk. 1,000
Non-resident Individual 30%
(other than non-resident Bangladeshi)
Sources of Income
For the purpose of computation of total income and charging tax
thereon, sources of income can be classified
into 7 categories, which are as follows :
Salaries
Interest on securities
Income from house property
Income from agriculture
Income from business or profession
Capital gains
Income from other sources.
Tax Rebate for investment
Rate of Rebate:
Amount of allowable investment is - actual investment or 30% of
total income or Tk. 150,00,000/-
whichever is less. Tax rebate amounts to 15% of allowable
investment.
In
Bangladesh withholding taxes are usually termed as Tax deduction
and collected at source. Under this
system both private and public limited companies or any other
organization specified by law are legally
authorized and bound to withhold taxes at some point of making
payment and deposit the same to the
Government Exchequer. The taxpayer receives a certificate from
the withholding authority and gets credits
of tax against assessed tax on the basis of such certificate.
Time to submit return of withholding tax
15th day of October, January, April and July
Or extended date up to 15 days by DCT
Statement of TDS, Copy of Treasury Challan /pay-orders should be
submitted with the return
Publicly Traded Company 27.5%
Non-publicly Traded Company 35%
Bank, Insurance & Financial Company (Except merchant bank) 42.5%
Merchant bank 37.5%
Cigarette manufacturing company 45%
Publicly traded cigarette company 40%
Mobile Phone Operator Company 45%
Publicly traded mobile company 40%
If any publicly traded company declares more than 30% cash
dividend, tax rate would be 24.75% and if
declares less than 10% dividend, tax rate would be 35%.
If any non publicly traded company transfers minimum of 20%
shares of its paid-up capital through
IPO (Initial Public Offering) it would get 10% rebate on total
tax in the year of transfer.
All earned income in Bangladesh from capital gains is taxed the same as regular income.
For Company Taxpayers
By fifteenth day of July next following the income year or,
where the fifteenth day of July falls before the
expiry of six months from the end of the income year, before the
expiry of such six months.
For Other Taxpayers
Unless the date is extended, by the Thirtieth day of September
next following the income year.