17. In the East Bengal Finance Act, 1950 (XVI of 1950), in section 3, for sub-section (1), the following shall be substituted, namely:-
“(1) As from the first day of July, 1972, there shall be levied and collected by the Government from the following classes of persons a tax for each financial year at the rate shown against each in addition to any tax, rate, duty or fee which they may be liable to pay under any other enactment for the time being in force, namely:-
(a) Companies, not being registered co-operative societies, transacting business anywhere in Bangladesh-
(i) Where the paid-up capital exceeds Taka 1,00,000 but does not exceed Taka 5,00,000. |
Taka 500 |
(ii) Where the paid-up capital exceeds Taka 5,00,000 but does not exceed Taka 10,00,000. |
Taka 1,000 |
| (iii) Where the paid-up capital exceeds Taka 10,00,000. |
Taka 1,000 plus Taka 250 for every Taka 5,00,000 or fraction thereof in excess of Taka 10,00,000. |
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Explanation - The expression ÔÇ£companyÔÇØ as used in this clause means a company as defined in the Companies Act, 1913 (VII of 1913). |
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(b) Persons owing factories situated anywhere in Bangladesh- |
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Rates. |
(i) Where the number of workers employed in the factory exceeds 30 but does not exceed 50. |
(ii) Where the number of workers employed in the factory exceeds 50 but does not exceed 70. |
(iii) Where the number of workers employed in the factory exceeds 70 but does not exceed 100. |
(iv) Where the number of workers employed in the factory exceeds 100. |
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Taka 500 |
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Taka 1,000 |
Taka 1,500 |
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Explanation - The expression ÔÇ£factoryÔÇØ and ÔÇ£workerÔÇØ, as used in this clause mean ÔÇ£factoryÔÇØ and ÔÇ£workerÔÇØ as defined in the East Pakistan Factories Act, 1965 (IV of 1965). |
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(c) Medical practitioners registered to practice in allopathic, homeopathic, unani or ayurvedic system of medicine, income-tax practitioners and legal practitioners, of not less than two years standing-Taka 50. |
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(d) Persons holding licences under the Imports and Exports (Control) Act, 1950 (XXX of 1950), clearing agents licensed or approved as custom house agents, engineering or architectural consultants, contractors supplying goods, commodities and services to Government or local bodies-Taka 50. |
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(e) Persons doing any business of sale of goods and services in hired, self-owned, allotted or assigned premises in municipal areas or such other areas as the Government may, be notification in the official Gazette, specify-Taka 50 : |
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Provided that no tax shall be leviable where the annual rental or rental value of the business premises does not exceed Taka 600. |
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(f) Persons not liable to tax under clauses (a) , (b), (c), (d), or (e) who in the preceding financial year were assessed to income-tax under the Income-tax Act, 1922 (XI of 1922), in respect of earnings of or income from any profession, trade, calling or employment as the case may be, pursued either wholly or in part within Bangladesh or who in the preceding financial year were assessed to agricultural income-tax under the Bengal Agricultural Income Tax Act, 1944 (IV of 1944)-Taka 50 : |
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Provided that where a person is liable to tax under more than one clause he shall be assessed to tax at the rate which is the highest under any of the clauses.ÔÇØ |
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