Dhaka, March 13 -- The Association of Mobile Telecom Operators of Bangladesh (Amtob), the trade organization representing all telecom operators in the country, proposed reducing corporate tax rate on mobile phone operator companies in the FY2024 budget.

Mobile operators are required to pay a minimum tax of 2% of their annual gross revenue which is in conflict with the Income Tax Act. Paying minimum tax despite loss in business means paying tax out of capital which is a hindrance to business expansion, said Amtob secretary general Brig Gen (retd) SM Farhad during a pre-budget discussion meeting with the National Board of Revenue (NBR) on Sunday. Amtob also proposed to withdraw the minimum turnover tax and abolish the tax of Tk200 imposed ...