Existing Charge of surcharge in Bangladesh.

 

Surcharge is payable by an individual assessee on total tax payable if the total net worth of the assessee exceeds Tk. 30 million in the following manner:

 

Total net worth	Rate
Up to Tk. 30 million (3 Crore)	Zero
Over Tk. 30 million(3 Crore) to Tk. 100 million (10 Crore) or owner of more than 1 motor car or owner of a flat of 8,000 square feet size within City Corporation area	10%
Over Tk. 100 million (10 Crore) to Tk. 200 million (20 Crore)	20%
Over Tk. 200 million (20 Crore) to Tk. 500 million (50 Crore)	30%
Over Tk. 500 million (50 Crore)	35%

Income tax slab and rate for individual resident in Bangladesh.

 

S.L	Total Income	Rate of tax	Tax amount
1	On 1st 300,00	Nil
2	On 2nd 100,00	5%	5,000
3	On 3rd  3,00,000	10%	30,000
4	On 4th 4,00,000	15%	60,000
5	On 5th 5,00,000	20%	100,000
6	Remaining	25%	-

1. Tax free income for women and individual above 65 age-350,000

2. Tax free income for person with disability 450,000

3. Tax free income for Gazetted freedom Fighter 475,000 

In case of parent/legal guardian of a physically challenged person, he/she (only one assessee if father and mother both are taxpayer) will get a further initial exemption of Tk. 50,000 in addition to above limit.

All taxpayers who will file their tax return first time through online will enjoy tax rebate of Tk. 2,000.

 

Types of VAT Rates

 

·        Standard VAT rate 15%

·        Trade VAT rate 5%

·        Truncated VAT Rate - 3rd Schedule - 5%, 7.5%, 10%

•                     Trading stage VAT for Medicine – 2.4%

•                     Trading stage VAT for Petroleum – 2%

•                     Land Development – 3%

•                     Apartment sale or transfer by Real Estate Developer

– 2% ( upto 1600 sft), 4.5% (from 1601 sft and above)

·         Re-registration of any size– 2%

·        Packaged VAT system has been abolished.

·        Fixed Amount of VAT for newsprint, bricks, M.S. Product and SIM cards.

·        Turnover tax rate – 4%