Md. Rezaul Karim, Chairman of the Shippers’ Council of Bangladesh (SCB) has urged the government to reduce newly imposed city corporation tax and trade licence fees as it fears this will raise cost of doing business.Criticising the decision, the SCB said the government has increased above tax according to the gazette notification issued on March 2, 2015 by the Ministry of LGRD.According to the gazette notification, city corporation tax will be increased to 27 percent from 12 percent on yearly basis. City Corporation Tax rate for limited companies will be increased up to Tk 5,000 yearly.Importers have to pay tax Tk 3,000 instead of Tk 1,000 and exporters have to pay tax Tk 3,000 instead of Tk 500.Trade licence fees went up to Tk 5,000 from Tk 2,000 earlier. SCB Chairman also said that that the businessmen in the recent past suffered remarkable loss in their businesses due to political unrest and violence. Still they can not minimise their losses, it added. Considering this, he urged the authority to bring back city corporation tax and trade licence fee to the previous level.
