Bangladesh: Yunus govt doubles corporate tax rates for producers of fridges, freezers, air conditioners and motorbikes
A Bangladesh government notification released recently said producers of fridges, freezers, air conditioners and motorbikes will have to pay 20 percent corporate tax from July 1.
It marks the doubling of the existing rate.
The increased tax rate will be applicable until 30 June 2032, the notification issued by National Board of Revenue (NBR) said as quoted by Daily Sun.
In July 2009, the NBR started allowing low corporate tax rate for vehicle and electronic appliance manufacturers for bolstering local manufacturing competence, the news portal reported.
The producers needed to pay 5 percent annual corporate tax.
The rate was later revised and increased to 10 percent in 2020.
Now the Prof Muhammad Yunus-led interim government has further doubled the tax to increase state earnings and secure the full $4.7 billion IMF bailout package, the news portal reported.
The Yunus-led government came to power following the toppling of former PM Sheikh Hasina's regime on August 5, 2024, amid massive protests against her administration.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
Bulletproof vest, bold message: Zelenskyy stuns Russia with Kupiansk visit
Ukrainian President Volodymyr Zelensky recently visited Kupiansk, a frontline city that Russia had claimed to have captured last month, underscoring Kyiv’s defiance amid intensifying fighting.
'India is an important partner': US lawmakers push to scrap Trump’s 50% tariffs
Washington/IBNS: A group of US lawmakers has moved to dismantle President Donald Trump’s controversial tariff regime against India, introducing a House resolution that seeks to terminate the national emergency declaration used to justify steep import duties of up to 50 percent.
Tow-Truck feud turns violent in Canada: 3 Indian-origin men arrested
Three Indian-origin men have been arrested in Canada in connection with a tow-truck-related shooting incident in Brampton, Ontario, while police continue their search for a fourth suspect.
Sanskrit returns to Pakistan for the first time since Partition
For the first time since the Partition of the subcontinent in 1947, the study of Sanskrit has quietly returned to Pakistan, with the Lahore University of Management Sciences (LUMS) introducing a formal course in the classical language.
Latest News
Energy Conservation Day seminar highlights EV charging and power system readiness in Tripura
Shyam Sundar Co Jewellers hosts ‘Congratulations & Celebrations’ mega draw prize Ceremony in Agartala
BJP is not a party of goons; it works for people: CM
From doorstep to disturbing: Grammy winner Ricky Kej suspects food delivery man of theft
