FE Today Logo

Ridesharing services come under tax, VAT net

FE Report | June 08, 2018 00:00:00


Earnings from the ridesharing businesses may come under the purview of income tax in the next fiscal year (FY).

Owners of vehicles used in the ridesharing businesses have to pay tax at source at a rate of 3.0 per cent on their income up to Tk 2.5 million, according to the proposed Finance Bill-2018.

The Finance Bill was placed in parliament on Thursday.

The tax at source would be imposed at a rate of 4.0 per cent if their income exceeds Tk 2.5 million-mark, it said.

It also has been proposed that passengers availing the ridesharing services such as Uber and Pathao will have to pay 5.0 per cent Value Added Tax (VAT).

The proposed Finance Bill-2018 placed the new measure following its booming business.

The ridesharing companies will have to deposit the VAT to the public exchequer.

The motor vehicle owners involved in the ridesharing businesses have to submit income tax returns and obtain a 12-digit electronic taxpayer's identification number (e-TIN) on mandatory basis.

There are a number of ridesharing businesses in Dhaka and Chittagong.

Uber, Pathao, OBhai, OBon, Shohoj ride, Let's Go, Cholo, Fast Drive, Chal Dal are the popular ridesharing business entities in the country.

doulot_akter@yahoo.com


Share if you like



COMPANY YCP HIGH LOW CLOSE %CHG
MIDASFIN 23.2 25.5 23.5 25.5 9.9138%
PARAMOUNT 14.9 16.3 15.2 16.3 9.396%
REPUBLIC 21.2 23.3 21.5 23.1 8.9623%
PREMIERLEA 10.5 11.5 10.6 11.4 8.5714%
AZIZPIPES 195.0 214.5 196.7 210.6 8%
SONARBAINS 16.6 18.1 16.7 17.9 7.8313%
RUPALIBANK 40.2 43.7 40.5 42.9 6.7164%
CONTININS 18.4 19.8 18.5 19.6 6.5217%
ASIAINS 17.6 19.3 17.4 18.7 6.25%
RUPALIINS 19.7 21.1 19.6 20.9 6.0914%
COMPANY YCP HIGH LOW CLOSE %CHG
GLAXOSMITH 1100.0 1107.0 1005.0 1006.0 9.3439%
ASIAINS 19.0 19.3 17.4 17.4 9.1954%
AZIZPIPES 214.4 214.5 196.7 197.5 8.557%
MIDASFIN 25.5 25.5 23.5 23.5 8.5106%
SONARBAINS 18.0 18.1 16.7 16.7 7.7844%
PREMIERLEA 11.4 11.5 10.6 10.6 7.5472%
PARAMOUNT 16.3 16.3 15.2 15.2 7.2368%
DHAKABANK 16.6 16.6 15.5 15.5 7.0968%
CONTININS 19.8 19.8 18.5 18.5 7.027%
BNICL 17.7 17.8 16.6 16.6 6.6265%
COMPANY YCP HIGH LOW CLOSE %CHG
NLI1STMF 14.6 13.3 13.2 13.2 -9.589%
SEBL1STMF 13.8 12.7 12.5 12.5 -9.4203%
ACFL 62.6 63.5 56.6 57.0 -8.9457%
KDSALTD 91.5 93.4 84.9 85.3 -6.776%
HRTEX 50.2 52.4 45.5 47.4 -5.5777%
QUEENSOUTH 50.4 51.3 47.1 47.6 -5.5556%
REGENTTEX 24.2 24.7 22.8 23.0 -4.9587%
DESHBANDHU 20.8 21.0 19.7 19.8 -4.8077%
SEMLIBBLSF 8.5 8.2 8.1 8.2 -3.5294%
MHSML 17.2 17.4 16.5 16.6 -3.4884%
COMPANY YCP HIGH LOW CLOSE %CHG
HRTEX 46.1 52.4 45.5 52.4 -12.0229%
ACFL 57.3 63.5 56.6 63.0 -9.0476%
KDSALTD 85.9 93.4 84.9 93.4 -8.03%
QUEENSOUTH 47.3 51.3 47.1 51.3 -7.7973%
SAIHAMTEX 30.5 32.9 30.4 32.9 -7.2948%
MHSML 16.5 17.4 16.5 17.4 -5.1724%
LEGACYFOOT 263.0 279.9 258.2 277.0 -5.0542%
RELIANCINS 47.6 50.0 47.6 50.0 -4.8%
REGENTTEX 23.4 24.7 22.8 24.4 -4.0984%
BDAUTOCA 437.0 468.8 431.5 455.1 -3.9771%