Dhaka Chamber of Commerce and Industry (DCCI) yesterday recommended the tax authorities to increase the tax free income ceiling for individual taxpayers to Tk3,00,000 from the next fiscal year from existing Tk2,20,000.
It put forward a set of proposals consisting 59-point recommendations for the coming budget for the fiscal year 2014-15.
The trade body also recommended increasing the ceiling for female and senior citizens aged over 65 years from Tk2,50,000 to Tk3,50,000 and for the physically challenged taxpayers from Tk3,00,000 to Tk4,00,000.
It also recommended imposing 20% tax on income over Tk5 lakh or above.
The chamber submitted the pre-budget recommendations to National Board of Revenue Chairman Md. Ghulam Hussain at the NBR headquarters in Dhaka.
DCCI President Mohammad Shahjahan Khan handed over the recommendations when Vice President Kh. Shahidul Islam and director Haider Ahmed Khan were present.
The suggestions also included increasing VAT-free investment capital in plant and machineries equipment to Tk1 crore from the existing 80,00,000, not imposing tax on income of chamber or trade bodies, providing 15% cash incentives to export of plastic goods, reduction of corporate tax for listed companies from 27.5% to 20%, and continuation of special incentives for SMEs sector.
