Tax Relief Planned for Freelancers, Startups

The government is preparing a package of tax incentives in the upcoming national budget aimed at stimulating economic growth, attracting investment, and generating employment. Freelancers, content creators, startups, and small entrepreneurs are expected to be among the major beneficiaries.

According to sources at the National Board of Revenue (NBR), income earned through freelancing may be granted full tax exemption under the proposed budget measures.

The government is also considering making income generated from digital content creation—including earnings from social media platforms and online content production—completely tax-free as part of efforts to strengthen the digital economy.

To encourage innovation and entrepreneurship, authorities are planning to reduce the turnover tax rate for startups and technology-based businesses to zero percent.

In addition, income generated from businesses with annual turnover of up to Tk 5 million may be exempt from tax to support small and medium-sized enterprises (SMEs).

The proposed measures include additional incentives for women and entrepreneurs with disabilities. Under the plan, income earned from businesses with turnover of up to Tk 7 million could receive full tax exemption.

The budget is also expected to introduce incentives to encourage timely tax return submissions by individual taxpayers.

Under the proposal, taxpayers who file their income tax returns between July and September will be eligible for a 5 percent tax rebate. However, individuals will still be allowed to submit returns throughout the year even after the designated rebate period expires.

Officials believe the proposed tax relief measures will help boost entrepreneurship, expand the digital economy, encourage voluntary tax compliance, and create new employment opportunities across multiple sectors.

//DBTech/DPO/EK/OR//