Insurers propose tax and VAT exemptions to boost health and life insurance sectors

• The Bangladesh Insurance Association (BIA) has proposed the withdrawal of VAT applicable to policyholders to help the health insurance sector expand.
• The BIA also proposed scrapping the 5 percent gains tax on profits made by policyholders of life insurance companies.
• The BIA called for withdrawing the value-added tax on the premium for agricultural, livestock, and crop insurances.
• The managing directors of the Dhaka Stock Exchange and Chittagong Stock Exchange suggested reducing taxes and corporate tax rates for listed companies.
• The NBR Chairman emphasized the need to increase tax revenue and reduce dependency on tax exemptions.

Source: thedailystar.net

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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