Tax on mobile banking increases

The government has increased corporate tax on mobile financial services (MFS) to generate revenue from the growing sector.

According to the budget proposal, an amendment will be made in this regard allowing transaction of over Tk50,000 through mobile banking services. The provision will be applicable only for the government projects.

Besides, the existing tax structure on the manufacturing of computer, accessories and mobile handset is extended for two more years to promote local industry.

With a vow to inspire internet cable manufacturing, the government has decreased the customs duty on plastic frameworks and coated calcium carbonate to 5 percent from existing 25 percent.