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Bangladesh Tax Structure > Income Tax

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Tax withholding functions : 

In Bangladesh withholding taxes are usually termed as Tax deduction and collected at source. Under this system both private and public limited companies or any other organization specified by law are legally authorized and bound to withhold taxes at some point of making payment and to deposit the same to the Government Exchequer. The taxpayer receives a certificate from the withholding authority and gets credits of tax against assessed tax on the basis of such certificate. 

Heads of Income Subject to deduction or collection of income tax at source with specified rates of deduction.

Sl

Head of withholding

Withholding authority

Withholding rate/ rates of tax

Limitation

1.

Salaries [section-50]

Any person responsible for making such payment.

Average of the rates applicable to the estimated total income of the payee under this head.

 

2.

Discount on the real value of Bangladesh Bank bills. [section-50A]

Any person responsible for making such payment.

Maximum rate

 

3.

Interest on securities [section-51]

Any person responsible for issuing any security

10%

This shall not apply to the Treasury bond or Treasury bill issued by the Government or to any payment on account of interest payable on debentures issued by or on behalf of a local authority or a company.

4.

Payment to contractors & sub-contractors [section-52] [rule-16]

Any person responsible for making such payment.

Upto Tk. 2,00,000/--Nil.

 

From 2,00,001 to Tk 5,00,000/- ------------1%

 

From 5,00,001 to Tk. 15,00,000/- ------- 2..5%

 

From 15,00,001 to Tk. 25,00,000/- ------- 3..5%

 

From 25,00,001 to Tk. 3,00,00,000/- ------4%

 

where the payment exceeds Tk. 3,00,00,000 ----------5%

 

in case of oil supplied by oil marketing companies upto Tk 2,00,000 -- Nil

 

where the payment exceeds Tk 2,00,000 -------- 0.75%

 

5.

Payment on indenting commission or shipping agency commission. [section-52, rule-17]

Any person responsible for making such payment.

on indenting commission -----------------------7.5%

 

on shipping agency commission ---------5%

 

6.

Fees for Doctors [section-52A(1)]

The principal officer of a company or the chief executive of any NGO or trust responsible for making such payment

10%

 

 7.

 Royalty or technical know-how fee [section-52A(2)]

 The government or any other authority, corporation or body or any company or any banking company or any insurance company or any co-operative bank or any NGO responsible for making such payment.

 10%

 

 8.

 Fees for professional of technical services [section-52A(3)]

 Do

 10%

 Person certified by NBR having non assessable income or person having income exempted from tax

 9.

 Payment of certain services like stevedoring agency, private security service

[section-52AA]

 The government or any other authority, corporation or body or any company or any banking company or any insurance company or any co-operative bank or any NGO responsible for paying any commission to a stevedoring agency or making any payment to a private security service.

 10%

 

 10.

 Clearing and forwarding agents [section 52AAA]

 Commissioner of Customs.

 10%

 

 

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