Atiur for more tax rebate on CSR acts

Bangladesh Bank governor Atiur Rahman on Saturday said the ceiling on tax exemption for Corporate Social Responsibility (CSR) activities by banks and financial institutions should be raised. “For enjoying the income tax rebate, I think, the minimum limit for expenditure on CSR by banks or financial institutions should be more than the existing ceiling of Tk 8 crore,” he said while addressing a roundtable discussion in the city. According to the Income Tax Regulation on CSR, the banking sector enjoys a 10-percent exemption of income tax against the money spent by them on CSR activities. The roundtable discussion on policy support to CSR was jointly organised by the Management and Research Development Institute and BB at the Bangladesh Institute of Bank Management (BIBM) auditorium at Mirpur in the city. Atiur said the central bank is formulating a detailed CSR policy and hoped that the NBR (National Board of Revenue) will accept it, according to UNB.