The income and value-added tax rates may be cut in the national budget for the upcoming fiscal year, an adviser to the prime minister said.
In Bangladesh, both the VAT and income tax rates are higher than those in other countries, Salman F Rahman, the private industry and investment adviser, said.
He was speaking at the unveiling of Sammilito Babosayee Parishad, a panel for the upcoming biennial election of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), at International Convention City Bashundhara in Dhaka on Sunday night.
Sheikh Fazle Fahim, panel leader, revealed the names of the candidates at the event, which was attended by former presidents and vice-presidents of the FBCCI and members of the business community. The election is due on April 27.
On defaulted loans, Rahman said the government was punishing wilful defaulters and trying to find out ways to help genuine defaulters.