BIA for reduction of capital gain tax on cos
Sunday, 13 June 2010
FE Report
Bangladesh Insurance Association (BIA), while hailing the national budget for fiscal year 2010-11, suggested reduction of both the proposed rates of the capital gain tax on companies and tax on sponsor directors.
"The Association strongly suggests that capital gain tax should be reduced to 5.0 per cent from the proposed 10 per cent and the rate of tax on sponsor directors should also be reduced to 3.0 per cent from the proposed 5.0 per cent," a BIA press statement said Saturday.
The BIA praised the government for introducing 'Agriculture Insurance' in the proposed budget, saying the scheme would help farmers recoup crop losses caused due to natural calamities.
It, however, suggested creation of a separate fund to implement the 'Agriculture Insurance' scheme.
"The Association feels that there should be separate fund for implementing the scheme," said the statement.
The BIA also hailed the national budget for attaching highest priority to the sectors namely education, power and energy, and infrastructure.
Besides, the Association also expressed the hope that the enhancement of increased volume of agri-loan would help achieve the targeted 6.7 per cent in the fiscal year 2010-2011.
Bangladesh Insurance Association (BIA), while hailing the national budget for fiscal year 2010-11, suggested reduction of both the proposed rates of the capital gain tax on companies and tax on sponsor directors.
"The Association strongly suggests that capital gain tax should be reduced to 5.0 per cent from the proposed 10 per cent and the rate of tax on sponsor directors should also be reduced to 3.0 per cent from the proposed 5.0 per cent," a BIA press statement said Saturday.
The BIA praised the government for introducing 'Agriculture Insurance' in the proposed budget, saying the scheme would help farmers recoup crop losses caused due to natural calamities.
It, however, suggested creation of a separate fund to implement the 'Agriculture Insurance' scheme.
"The Association feels that there should be separate fund for implementing the scheme," said the statement.
The BIA also hailed the national budget for attaching highest priority to the sectors namely education, power and energy, and infrastructure.
Besides, the Association also expressed the hope that the enhancement of increased volume of agri-loan would help achieve the targeted 6.7 per cent in the fiscal year 2010-2011.