National, Back Page

Corporate tax rates to remain unchanged

Published : 01 Jun 2023 09:40 PM

The proposed budget for FY 2023-24 that was placed at the JatiyaSangsad on Thursday kept the corporate tax rates unchanged for all sectors.

"From FY2020-2021 to FY2022-23, the corporate tax rate has been reduced every year. Considering all these, as a part of efforts to achieve tax GDP growth targets, I am proposing to retain the existing structure of corporate tax rate," finance minister AHM Mustafa Kamal said.

Currently, the corporate tax rate for listed companies is 20 per cent while 27.5 per cent for non-listed companies. These rates are not applicable for banks, insurance companies, non-bank financial institutions (NBFIs) and telecommunication and tobacco companies.

The tax rate for listed banks, insurance companies and NBFIs is 37.5 percent. It is 40 percent for the non-listed firms in the same categories.