Finance Minister AMA Muhith speaks at a pre-budget discussion at the Bangabandhu International Conference Centre in Dhaka yesterday. Md Mosharraf Hossain Bhuiyan, chairman of the NBR, Golam Sarwar, editor of the Daily Samakal, Abul Kasem Khan, president of the DCCI, and AB Mirza Azizul Islam, a former caretaker government adviser, are also seen. Photo: Star

Corporate tax cuts on way

The government will cut corporate tax rates and bring in special measures for investors and exporters in the upcoming budget for the ease of doing business and encouraging investment. “I have made commitments about reducing the corporate tax rate in various pre-budget discussions,” said Finance Minister AMA Muhith. Muhith’s comments came at a pre-budget discussion organised by the Dhaka Chamber of Commerce and Industry, Daily Samakal and Channel 24 at the Bangabandhu International Conference Centre in Dhaka yesterday.

He said he has had discussions with the National Board of Revenue about the multi-layer taxation system and a decision will be taken on the issue within the next two to three days. On the national savings certificates, he said the government’s policy is to maintain the interest on the savings instruments a little higher than the interest rate on bank deposits. “But the gap between the two has now become wide. We are going to review it after we place the budget,” he added.