The Dhaka Chamber of Commerce and Industry (DCCI) has urged the government to reduce newly imposed increased fees on trade licences and holding tax as it believes that the move will not only increase cost of doing business but also fuel inflation in the country. “The country’s businessmen have incurred a remarkable loss in their own businesses due to political unrest and violence in recent past. Still, they could not minimise their losses. In view of this, DCCI feels that the rate of holding tax and trade licence fee should be fixed as it was before,” said a DCCI press release issued yesterday. Strongly criticising the government’s move on tax hike, the chamber came up with the demand through a release signed by DCCI Secretary General AHM Rezaul Kabir. The LGRD ministry on March 2 issued a gazette notification to increase the holding tax to 27% from 12% on yearly basis. The city corporation tax rate for the limited companies was increased up to Tk5,000 yearly while it was set at Tk3,000 according to the gazette notification.
