Corporate tax reduced except for banks, tobacco and mobile operators

Finance Minister AHM Mustafa Kamal proposed to drop corporate tax of listed and non-listed companies by 2.5 percentage point except banks, merchant banks, tobacco companies, and mobile operators.

However, corporate tax for listed mobile financial services is proposed to soar by 5 percentage point. If it is non-listed then the suggested rise will be 7.5 percentage point.

Corporate tax for one person company has been advised to drop by 7.5 percentage point.

A one-person company is a company that only has one natural person as its shareholder.