GP ranks top among corporate taxpayers

2012-07-18

The country's largest mobile phone company, Grameenphone (GP), ranked the top position among nearly 300 large corporate income taxpayers in the just concluded fiscal while eight private commercial banks are among the top ten.

The GP, like previous years, is in the top position with paying Tk 15 billion corporate tax, which is 15 per cent of the revenue earned by Large Taxpayers Unit (LTU) of the income tax wing.

Eight of the country's commercial banks are among the top ten corporate taxpayers of the LTU of the National Board of Revenue (NBR).

British American Tobacco (BAT) is in the tenth position in terms of payment of tax with Tk 1.75 billion income tax.

A senior LTU official said banks pay around 60 per cent of the total corporate tax collected by the unit as they are subject to pay income tax at highest rate, 42.5 per cent, on their income.

"Every year GP pays the highest amount of corporate tax but due to different cases and disputes it dropped from the list of awards for top taxpayers," he said.

Around 44 per cent or Tk 40.91 billion of the corporate income tax came from the top ten corporate taxpayers in the just concluded fiscal, he said.

The LTU has collected Tk 94.05 billion income tax in 2011-12 fiscal, which is 33 per cent of the total income tax collection, according to provisional data of the NBR.

Standard Chartered Bank, Islami Bank, Hong Kong and Shanghai Banking Corporation (HSBC), National Bank, Janata bank, Dutch-Bangla bank, Prime bank and Pubali bank are the top corporate taxpayers among the banks.

In the just concluded fiscal, Standard Chartered Bank paid Tk 4.38 billion income tax followed by Islami bank Tk 4.26 billion and HSBC Tk 3.15 billion, National Bank Tk 2.86 billion, Janata Bank Tk 2.78 billion, Dutch-Bangla bank Tk 2.68 billion, Prime bank Tk 2.19 billion and Pubali Bank Tk 2.01 billion.

Currently, LTU intensively monitors a total of 298 companies and nearly 1,000 individual taxpayers, mostly sponsor directors of those companies.

In the current fiscal, the NBR also extended wings of LTU to Chittagong to monitor large taxpayers of the port city.

 

Source: http://www.thefinancialexpress-bd.com

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