iCalculator™ BD: Bangladesh Tax Calculators

Welcome to iCalculator™ BD, your comprehensive suite of free tax calculators for Bangladesh. iCalculator™ has provided free tax calculators for Bangladesh since 2019. Since those early days we have extended our resources for Bangladesh to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Bangladesh Tax Calculator and salary calculators within our Bangladesh tax section are based on the latest tax rates published by the Tax Administration in Bangladesh. In this dedicated Tax Portal for Bangladesh you can access:

Bangladesh Tax Calculator 2024/25

The Bangladesh Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Bangladesh. This includes calculations for

1. Employees in Bangladesh to calculate their annual salary after tax.
2. Employers to calculate their cost of employment for their employees in Bangladesh.

Discover Bangladesh

Bangladesh is a South Asian country situated on the Bay of Bengal, bordered by India to the north, west, and east, and Myanmar to the southeast. It is separated from Nepal and Bhutan by the narrow Siliguri Corridor and is in proximity to China. Bangladesh's strategic location makes it a significant player in regional politics and economics. The country's landscape is dominated by the Ganges-Brahmaputra delta, which contributes to its fertile plains and, conversely, vulnerability to flooding due to rising sea levels.

For more information on its neighboring countries, visit India, Myanmar, Nepal, and Bhutan.

Economy of Bangladesh

Bangladesh's economy is classified as a developing market economy. It is one of the world's fastest-growing economies, primarily driven by its textile industry, which is the second-largest in the world. The agricultural sector also plays a vital role, with crops like rice, tea, and mustard contributing significantly to the economy. Additionally, the country has seen growth in the pharmaceutical, shipbuilding, and information technology sectors. Remittances from Bangladeshis working overseas are another crucial component of the economy.

Despite the rapid economic growth, Bangladesh faces challenges like political instability, corruption, and a lack of infrastructure. The country has made significant strides in human development, including improvements in health and education. The government is actively working to enhance foreign investment and industrial growth, aiming to elevate Bangladesh to a middle-income economy.

Cultural and Historical Aspects

Bangladesh boasts a rich cultural heritage, with deep roots in history, tradition, and language. The country's majority population is Bengali, with a distinct identity that is reflected in the Bangla language and literature, music, dance, and cuisine. Bangladesh is also known for its vibrant festivals, including the Bengali New Year and Durga Puja. The country's history is marked by its struggle for independence, first from British colonial rule and then from Pakistan, culminating in the Bangladesh Liberation War of 1971. This historical context has significantly shaped the national identity and cultural consciousness of the people of Bangladesh.

Bangladesh's location, dynamic economy, and rich cultural tapestry make it an intriguing and significant nation in South Asia.

Overview of Taxation in Bangladesh

The tax system in Bangladesh encompasses a variety of taxes applicable to individuals, businesses, and transactions. It plays a crucial role in the country's revenue generation and economic development. The tax structure in Bangladesh is designed to be comprehensive and align with international standards, while also addressing local economic needs.

For individuals, income tax is levied on various sources of income, including employment, business, and investment. The system is progressive, with different income levels subject to varying tax brackets. Corporate tax applies to company profits, with rates varying based on the type and size of the business. Bangladesh also imposes Value Added Tax (VAT) on goods and services, which is a significant source of revenue. Additionally, there are other forms of taxes such as customs duties on imports, excise duties on specific goods, and property taxes.

The government of Bangladesh has been working on tax reforms to simplify the tax system, broaden the tax base, and enhance compliance. These efforts are aimed at making the tax system more efficient and effective in fostering economic growth. For businesses and individuals, staying informed about the latest tax regulations and practices is essential for effective financial planning and compliance.

To access the most recent information on tax regulations and practices in Bangladesh, including tools and tables that aid in understanding and calculating taxes, please visit our comprehensive Tax Hub. This resource provides valuable insights into Bangladesh's tax system, making it an essential tool for anyone navigating taxation in Bangladesh.