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17 July, 2019 00:00 00 AM

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Letters to the editor

The impact of imposing five per cent tax in addition to the existing five per cent on ‘Shanchay Patras’

Sir,

Traditionally retired service holders as well as people of low- and fixed-income group – those employed in industries, corporations, educational institutions or cottage industries etc. buy Shanchay Patras (SPs) to have a stable and dependable running income.

Accordingly, reduction in SP return or imposition of tax on SP generated income has led to a decline in the income of the SP dependent people.

In the 2015-16 budget, the interest rate on all types of SPs was reduced from 12-13 per cent to 10-11per cent (rounded) and remained as such until June 2019. During this period salaries and wages in all service sectors went up by at least 25-30 per cent and much higher in the government sector. This obviously has put the SP dependent families to financial hardships.

The imposition of 5 per cent tax in addition to existing 5 per cent on SP generated income will increase the financial hardships of the SP dependent population further. Senior Awami League leader Matia Chowdhury raised the point at length at the parliamentary debate on the budget but it seems her compelling arguments fell on deaf ears.

We urge the relevant authorities to immediately withdraw this tax to free the SP dependent families from financial worries.

 

M A Mannan, Human Resource Professional

Bashundhara R/A, Dhaka

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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