GP, 9 PCBs top corporate taxpayers in first half
Monday, 19 March 2012
Doulot Akter Mala
The country's private commercial banks (PCBs) are the major contributors to the volume of corporate tax as they are nine in number among the ten highest income tax payers, while Grameenphone is in the top position.
Grameenphone has topped the list in the payment of tax in the first half of the current fiscal.
Standard Chartered Bank, which was in the top position in the corresponding period last year, has been ranked second in first six months of this fiscal.
Grameenphone paid Tk 4.0 billion in tax in July-December period, while Standard Chartered Bank Tk 2.48 billion.
Among the ten top corporate tax payers, nine are the country's scheduled banks that pay tax at the highest 42.5 per cent rate on their annual earning.
Prime Bank Limited and The Hong Kong Shanghai Banking Corporation (HSBC) are in the third and fourth positions by paying Tk 1.12 billion and Tk 887 million respectively in the July-December period.
Pubali Bank Limited and City Bank Limited are in the next positions with Tk 700 million and Tk 626 million's worth income tax respectively.
Dutch Bangla Bank and Export Import Bank have been ranked seventh and eighth with Tk 626 million and Tk 615 million tax.
National Bank Limited and One Bank are in the next positions with Tk 609 million and Tk 541 million tax during the that period.
The ten corporate tax payers have paid Tk 12.76 billion income tax in the first six months of the current fiscal (July-December) contributing to a major share of revenue earning.
AB Bank, American Life Insurance Company (ALICO) and Citibank NA have been dropped from the list of the top ten corporate tax payers in the first half of this year. Last year, AB Bank was in the fifth position, while ALICO and Citibank in the ninth and tenth positions.
The City Bank and One Bank came on the list of the top corporate tax payers in the current fiscal.
Besides, sponsor-directors of the country's seven private commercial banks (PCBs) earned top positions among the individual income tax payers.
Among the top ten individual taxpayers, Bank Asia director Anwar Hossain got the position of the top income tax payer.
Mr Hossain paid Tk 9.1 million as income tax in the first half of the fiscal.
Saiful Alam, chairman of the First Security Islami Bank Limited, came second paying Tk 8.8 million as income tax in the July-December period.
Premier Bank chairman Dr. HBM Iqbal is in the next place with Tk 8.26 million followed by vice chairman of Mercantile Bank Morshed Alam with Tk 7.7 million in income tax.
Ragib Ali, chairman of the Southeast Bank Limited, is in the next position with Tk 7.2 million in tax.
Manjoor Morshed Khan of Pacific Motors, Managing Director of GMG airlines Shahab Sattar, sponsor-director of Mercantile Bank Limited Israt Jahan are also on the list of top ten taxpayers.
They have paid Tk 7.2 million, Tk 6.3 million and Tk 5.6 million income tax respectively in July-December period.
Rahimafrooz Bangladesh Limited Group's Managing Director Firoz Rahim is on the list of top ten corporate tax payers with Tk 5.3 million in income tax.
Former Chairman and director of Prime Bank Azam J Chowdhury occupies the next position by paying Tk 4.72 million income tax.
Nearly 706 large individual income tax payers are enlisted with the LTU of the National Board of Revenue (NBR).
All of the large taxpayers, who are paying income tax under LTU, are sponsor-directors of different banks, financial institutions, leasing and other companies.
Company taxes account for around 70 per cent of the LTU's collection.
Banks, financial institutions, leasing companies are the main earning sources of LTU. The LTU contributes 37 per cent of the total income tax earning.
Revenue collection target of LTU was Tk 42.57 billion until February. It has surpassed its target by achieving 27 per cent growth over the corresponding period.
Talking to the FE, LTU commissioner Romendra Chandra Basak said the unit was hopeful of achieving the target of revenue collection this year.
The target for revenue collection has been set at Tk 92.40 billion for the current fiscal by estimating the 23 per cent growth, he said expressing optimism about the increased target.
He said Grameenphone usually pays the highest amount of tax among the corporate houses while banks contribute a major part.
A total of 283 companies and 705 individual taxpayers pay income tax under the unit, including 47 banks.
The country's private commercial banks (PCBs) are the major contributors to the volume of corporate tax as they are nine in number among the ten highest income tax payers, while Grameenphone is in the top position.
Grameenphone has topped the list in the payment of tax in the first half of the current fiscal.
Standard Chartered Bank, which was in the top position in the corresponding period last year, has been ranked second in first six months of this fiscal.
Grameenphone paid Tk 4.0 billion in tax in July-December period, while Standard Chartered Bank Tk 2.48 billion.
Among the ten top corporate tax payers, nine are the country's scheduled banks that pay tax at the highest 42.5 per cent rate on their annual earning.
Prime Bank Limited and The Hong Kong Shanghai Banking Corporation (HSBC) are in the third and fourth positions by paying Tk 1.12 billion and Tk 887 million respectively in the July-December period.
Pubali Bank Limited and City Bank Limited are in the next positions with Tk 700 million and Tk 626 million's worth income tax respectively.
Dutch Bangla Bank and Export Import Bank have been ranked seventh and eighth with Tk 626 million and Tk 615 million tax.
National Bank Limited and One Bank are in the next positions with Tk 609 million and Tk 541 million tax during the that period.
The ten corporate tax payers have paid Tk 12.76 billion income tax in the first six months of the current fiscal (July-December) contributing to a major share of revenue earning.
AB Bank, American Life Insurance Company (ALICO) and Citibank NA have been dropped from the list of the top ten corporate tax payers in the first half of this year. Last year, AB Bank was in the fifth position, while ALICO and Citibank in the ninth and tenth positions.
The City Bank and One Bank came on the list of the top corporate tax payers in the current fiscal.
Besides, sponsor-directors of the country's seven private commercial banks (PCBs) earned top positions among the individual income tax payers.
Among the top ten individual taxpayers, Bank Asia director Anwar Hossain got the position of the top income tax payer.
Mr Hossain paid Tk 9.1 million as income tax in the first half of the fiscal.
Saiful Alam, chairman of the First Security Islami Bank Limited, came second paying Tk 8.8 million as income tax in the July-December period.
Premier Bank chairman Dr. HBM Iqbal is in the next place with Tk 8.26 million followed by vice chairman of Mercantile Bank Morshed Alam with Tk 7.7 million in income tax.
Ragib Ali, chairman of the Southeast Bank Limited, is in the next position with Tk 7.2 million in tax.
Manjoor Morshed Khan of Pacific Motors, Managing Director of GMG airlines Shahab Sattar, sponsor-director of Mercantile Bank Limited Israt Jahan are also on the list of top ten taxpayers.
They have paid Tk 7.2 million, Tk 6.3 million and Tk 5.6 million income tax respectively in July-December period.
Rahimafrooz Bangladesh Limited Group's Managing Director Firoz Rahim is on the list of top ten corporate tax payers with Tk 5.3 million in income tax.
Former Chairman and director of Prime Bank Azam J Chowdhury occupies the next position by paying Tk 4.72 million income tax.
Nearly 706 large individual income tax payers are enlisted with the LTU of the National Board of Revenue (NBR).
All of the large taxpayers, who are paying income tax under LTU, are sponsor-directors of different banks, financial institutions, leasing and other companies.
Company taxes account for around 70 per cent of the LTU's collection.
Banks, financial institutions, leasing companies are the main earning sources of LTU. The LTU contributes 37 per cent of the total income tax earning.
Revenue collection target of LTU was Tk 42.57 billion until February. It has surpassed its target by achieving 27 per cent growth over the corresponding period.
Talking to the FE, LTU commissioner Romendra Chandra Basak said the unit was hopeful of achieving the target of revenue collection this year.
The target for revenue collection has been set at Tk 92.40 billion for the current fiscal by estimating the 23 per cent growth, he said expressing optimism about the increased target.
He said Grameenphone usually pays the highest amount of tax among the corporate houses while banks contribute a major part.
A total of 283 companies and 705 individual taxpayers pay income tax under the unit, including 47 banks.