DHAKA: Individual taxpayers will experience no change this year as finance minister AMA Muhith has fixed the tax-free income ceiling at Tk 2.50 lakh like previous one in the proposed budget for the fiscal year 2016-17.

Finance Minister has proposed the tax-free income limit while placing the 45th national budget in the Parliament on Thursday (June 02) afternoon.

The individual taxpayers have to pay 10 percent tax if their income is between Tk 2.50 lakh and Tk 4 lakh, he added.

The payers have to pay 15 percent of their income if they earn between Tk 4 lakh and 5 lakh.

Earners with more than 5 lakh to Tk 6 lakh, will have to pay 20 percent while 25 percent for above 6 lakh to Tk 30 lakh. The highest 30 percent tax has been fixed on earning over 30 lakh.

Besides, women and men aged above 65 do not have to pay tax if they earn maximum Tk 3 lakh. The tax-free limit, however, has been enhanced to Tk 4.25 lakh for gazetted freedom fighters.

Country got highest ever Tk 3.40 lakh crore national budget for the fiscal year 2016-17.

BDST: 1650 HRS, June 2, 2016
BD/SMS