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Tax-Free income limit should be increased: Dr Salim Uddin

  • Sun Online Desk
  • 21st June, 2022 06:26:04 PM
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Tax-Free income limit should be increased: Dr Salim Uddin
Professor Dr Md Salim Uddin

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Professor Dr Md Salim Uddin, FCA, FCMA, Chairman, Bangladesh House Building Finance Corporation, said the tax-free income limit at the individual level should be re-fixed at four and a half lakh taka to reduce the discomfort of economic instability in the current world market and to increase the number of people interested in paying taxes.

He was speaking at a webinar titled 'Finance Bill 2022: Changes in Income Tax, VAT and Customs' on June 18.

While speaking on the reduction of the corporate tax rate in the webinar, he implore to reconsider the provision of transferring money to a special fund and not to showing the supply of money to the worker profit participation fund as commercial expenses.

He also emphasized on automation of the National Board of Revenue and Customs in implementing all the changes of the Finance Bill.  At the same time, Dr salim hoped that the changes in the bill would play a significant role in increasing trade and industrialization and attracting investment.

Mr Abdur Rahman Khan, Additional Secretary, Ministry of Finance, FCMA, was one of the keynote speakers at the webinar organised by Cost and Management Accounting Firm, LSF & Co. Mr Mahtab Uddin, Ex CEO, Robi was present in the webinar as moderator. Mr Moshiur Rahman presents papers on VAT & Customs while Mr HM Mainuddin Ahmed presents papers on Tax in the webinar. More than 250 members of ICMAB were present in the webinar.