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Company corporate tax should have been cut, too


OurtimeBD.com
09.06.2018

Dr. Salehuddin Ahmed, Former Governor, Bangladesh Bank

Dr. Salehuddin Ahmed, Former Governor, Bangladesh Bank  : The corporate tax for banks has been reduced in the proposed budget for 2018-19 fiscal year, but I feel the same should have been done for companies as well.
The way investment is currently getting stalled, I think reducing corporate tax would have been better. If it was reduced, employee pensions could have been started or different allowances offered, which could have provided encouragement. Nevertheless, let’s see whether banks really do reduce interest rates and finance middle enterprises. It would be good if that does happen.
Not only in ‘mega-projects’, the pace in every other project has slowed down as well, especially the rate at which the Padma Bridge is being constructed is atrocious. We neither have the ability to implement nor to strictly monitor the projects. Whenever the time allotted for mega projects increases, the costs go up as well. When it comes to implementation of the mega projects, success is not the only factor – it should also be made sure that the quality of work is maintained as well.


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