Tax-free income limit should be increased – Dr. Selim Uddin


In order to reduce the discomfort of economic instability in the current world market and to increase the number of people interested in paying taxes, the tax-free income limit at the individual level should be re-fixed at four and a half lakh rupees, said BHBFC Chairman Prof. Md. Selim Uddin, FCA, FCMA. He was speaking at a webinar titled ‘Finance Bill on 18 June 2022: Changes in Income Tax, VAT and Customs’ . In the webinar, he also called for reconsideration of the provision to reduce the corporate tax rate by transferring funds to a special fund and not to provide funds to the Workers Profit Participation Fund. He also emphasized on automating the National Board of Revenue and Customs in implementing all the changes in the Finance Bill. At the same time, he hoped that the changes in the bill would play a significant role in increasing trade and industrialization and attracting investment. Abdur Rahman Khan, Additional Secretary, Ministry of Finance, FCMA, was one of the keynote speakers at the webinar, organized by Cost and Management Accounting Firm (LSF & Co.). Mr. Mashiur Rahman presented an article on VAT and Customs at the webinar hosted by Mahtab Uddin Ahmed FCMA, former CEO of Robi. HM Mainuddin Ahmed presented an article on income tax. The webinar was attended by about 250 members of ICMAB.


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