Staff Correspondent:

The Federation of Bangladesh Chambers of Commerce & Industries (FBCCI) on Wednesday proposed raising the tax-free income ceiling for the common taxpayers to Tk 450,000 in the coming national budget from current Tk 350,000.

Md Hafizur Rahman, administrator of the apex body of the traders, made the proposal at a meeting jointly organised by the National Board of Revenue (NBR) and FBCCI at Hotel Sonargaon in the capital.

He also proposed to raise the ceiling to Tk 500,000 for the female taxpayers and those above 65 years of age.

Interim Government’s Finance Adviser Salehuddin Ahmed attended the meeting as the chief guest.

Apart from him, Commerce Adviser Sk Bashiruddin, Bangladesh Investment Development Authority (BIDA) Chairman Chowdhury Ashik Mahmud Bin Harun, NBR Chairman Md Abdur Rahman Khan and so on.

FBCCI administrator Md Hafizur Rahman moderated the programme.

FBCCI Administrator Md Hafizur Rahman said it was essential to raise the tax-free income ceiling for the common people elderly and women taking into consideration the inflation and gradually increasing expenses of livelihood.

The lower income people are forced to spend a major part of their income to buy daily essentials in this economic condition, he pointed out.

In this situation, the existing tax structure is putting an additional pressure on them, Hafizur Rahman added.

The FBCCI administrator also proposed fixing the lowest tax rate to 5 per cent and highest to 25 per cent.

According to him, the quality of the citizens’ lifestyle will be improved and would be helpful to maintain economic stability if such reforms are implemented.