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Tax Rates in Bangladesh for Assessment Year 2015-16 (As per Finance Act 2015)

A) Tax Other Than Company

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)

B) For Companies

   

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%

 

Bangladesh Income Tax Rates 2014-15 and Deductions

Bangladesh Income Tax Rate for Individual Tax Payers

 

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.

Withholding Tax Rate in Bangladesh

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

Corporate Tax Rates in Bangladesh

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.

Capital Gains Tax in Bangladesh

All earned income in Bangladesh from capital gains is taxed the same as regular income.

Bangladesh Dates of filing Tax Returns / Reporting and Payment

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.

 
 

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