Pension outline for private service holders in next budget: Muhith
Finance Minister Abul Maal Abdul Muhith said, an outline of pension for the private service holders will be upheld in the budget of 2018-19 fiscal.
He said this to the newsmen at the conference room of the finance ministry on Monday.
He said, VAT will be decreased to 5 level from the existing 9 level in this year’s budget. Highest rate will be 15 percent. It will be decreased to 3 level from the 5 level in the next year.
He also mentioned that no new tax will be imposed in this budget.
Government is taking initiatives to introduce universal pension system for all like the developed world. The Finance Minister declared this while delivering budget speech of current fiscal 2017-18. But that was not implemented.
In the budget speech of 2017-18 fiscal Finance Minister Abul Maal Abdul Muhith said, the government pensioners are a marginal part of entire population of the country. So in accordance with the government employees we are working on to introduce participatory universal pension scheme with government support. The integral aim of us is to build the country as a welfare state.
After the declaration finance ministry began to work on this. The outline will be given in this budget according to the guideline.
The Finance Minister said, corporate tax 45 percent for the cigarettes and mobile phone companies will be unchanged. The highest rate of corporate tax for the all listed and unlisted companies including banks will be 37.5 percent.
The size of this year’s budget will be more or less four lakh 60 thousand crore taka. The exact figure I cannot deliver at the moment, he added.