DCCI places budget recommendations to NBR

The Dhaka Chamber of Commerce and Industry (DCCI) has placed a 59-point recommendation on the national budget for the fiscal year 2014-15 to the National Board of Revenue (NBR), reports UNB.
DCCI President Mohammad Shahjahan Khan placed the recommendations to NBR Chairman Md Ghulam Hussain at the NBR office on Wednesday.
DCCI Vice President Kh Shahidul Islam and Director Haider Ahmed Khan were present on the occasion.
The DCCI recommended increasing tax free income limit from Tk 0.22 million to Tk 0.30 million for women, from Tk 0.22 million to Tk 0.35 million for the elderly, and from Tk 0.30 million to Tk 0.40 million for the disabled. Besides, it also recommended imposing 20 per cent tax on income over Tk 0.5 million or more.
The chamber suggested reducing corporate tax on listed companies from 27.5 per cent to 20 per cent and increasing the limit of annual turnover tax from Tk 8.0 million to Tk 10 million with reduced turn over tax at 2.0 per cent from 3.0 per cent.
The DCCI further recommended that no tax is imposed on the income of chamber or trade bodies since these are non-profit organisations.  Besides, the chamber urged providing 15 per cent cash incentives against export of plastic goods.
Mohammad Shahjahan Khan urged the government to prepare the upcoming budget considering the losses caused by the recent political instability and violence.
NBR chairman Ghulam Hussain assured of considering the Chamber's recommendations in due course.