Tax cuts for cashless transactions

Listed and non-listed companies using banks and digital means to receive all receipts and income and carry out all expenditures and investments of over Tk 12 lakh are likely to enjoy a 2.5 percentage point tax cut from next fiscal year.

Tax for non-listed companies may be reduced to 27.5 per cent for the next fiscal year 2022-23 from 30 per cent in the outgoing fiscal year.

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Listed companies might have to pay only a 20 per cent tax on their income if they raise more than 10 per cent of their paid-up capital through initial public offering. The tax rate could go up to 25 per cent if they raise 10 per cent or less.

Tax for one-person companies may decline to 22.5 per cent from 25 per cent if they transfer funds through banks or electronic means.