March 28, 2024, 4:21 pm


admin

Published:
2019-03-06 23:43:03 BdST

Grameen Bank is getting tax exemption until 2020


The National Board of Revenue (NBR) is giving tax exemption facility to Grameen Bank again for 5 years. As a result of this tax exemption, income tax, super-tax or business profits imposed on any of Grameen Bank's income by December 2020 will remain outside the tax. Earlier, the tax exemption was given by the SRO from January 1, 2011 to December 31 this year. NBR sources confirmed that the fertilizer will be sent to the Finance Minister soon. On Tuesday, a decision was taken about the decision to grant Grameen Bank's tax exemption in the NBR board meeting. A member of the NBR said on condition of anonymity that all members of the Board of Directors of Grameen Bank's tax exemption will be given the approval of the board. After approval of the work sheet, the summery will be sent to the Finance Minister.

According to the source, tax collector of Grameen Bank Tax Area-14, Tax Circle-287 Taxpayer Identification Number (TIN) 070-200-1884 In 2012-13, the total income of the company has been estimated to be Tk 365 crore 31 lakh.

According to sources in the meeting, the tax exemption facility of Grameen Bank was scheduled to end on December 31 this year. Recently, Grameen Bank appealed to increase the tax exemption up to 2020. NBR took a decision on the tax exemption for another 5 years, if raised in the board meeting for consideration of their application.

Recently, in the application for exemptions sent to NBR, Grameen Bank has mentioned that it is possible to avail dividend to the shareholders (government and landless members) for continuing the company's tax exemption. In this process, 100 percent in 2006, 20 percent in 2007 and 30 percent from 2008 to 2013. In the continuation of this, it will be possible to get 30 percent profit in 2014. The government has given opportunity to empowerment to the country's huge population by adopting the income earned by the organization as dividends. The government is also getting dividends on unpaid money.

According to sources, after approval of the work sheet in the board house, the fertilizer will be sent to the Finance Minister. After the approval of the finance minister, the legal basis will be sent to the law ministry for vetting. The notification will be issued finally if the Ministry of Law is absent. Grameen Bank will get the tax exemption facility for the next 5 years from the date on which the notification will be issued.

It is learned that Grameen Bank distributed small loans of about 86 lakh 54 thousand members in 81 thousand 390 villages of the country through 2, 568 branches. Under this program, the number of family members is more than 5 crore. Grameen Bank is distributing approximately Tk. 13 thousand 500 crore a year.

 

 

Unauthorized use or reproduction of The Finance Today content for commercial purposes is strictly prohibited.


Popular Article from Bank