The income tax rates for individuals in Bangladesh for the 2024-2025 assessment year (which applies to income earned in the 2023-2024 fiscal year) were proposed in the national budget for 2024-2025 and are expected to remain in effect. Here’s a summary of the key changes:
- Tax-free income ceiling remains at Tk 3.5 lakh
- Introduction of a new top bracket rate of 30% applicable to income exceeding Tk 3.85 crore
- Revision of certain lower bracket thresholds
Here’s a table outlining the income tax brackets for individuals:
| Income Range (BDT) | Tax Rate (%) |
| Up to 350,000 | 0 |
| 350,000 to 450,000 | 5 |
| 450,000 to 850,000 | 10 |
| 850,000 to 1,350,000 | 15 |
| 1,350,000 to 1,850,000 | 20 |
| 1,850,000 to 3,850,000 | 25 |
| Above 3,850,000 | 30 |
- Reduction in tax rate for non-publicly traded companies from 27.5% to 25.0% with certain conditions.
- Reduction in tax rate for One Person Companies (OPC) from 22.5% to 20.0% with certain conditions.
- Increase in tax rate for cooperative societies from 15.0% to 20.0%
It’s important to note that these are just the proposed tax rates. To ensure you have the most up-to-date information, it’s recommended to consult the National Board of Revenue of Bangladesh (https://nbr.gov.bd/) or a tax professional in Bangladesh.
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