Private universities demand removing 15% income tax
According to the statement, imposing tax on private universities while they have repeatedly been appealing for long-term loan assistance in the wake of Covid-19 pandemic is in conflict with the government's policy of expanding higher education
The Bangladesh Private University Association today urged the government to withdraw 15% income tax imposed on private universities in the National Budger for 2021-22 financial year.
The organisation made this demand to the Prime Minister in a statement signed by its chairman Sheikh Kabir Hossain.
According to the statement, imposing tax on private universities while they have repeatedly been appealing for long-term loan assistance in the wake of Covid-19 pandemic is in conflict with the government's policy of expanding higher education.
Due to not receiving fees from the students regularly, the private universities are now forced to conduct educational activities with discounts on scholarships and tuition fees, the statement reads.
The organisation also claimed that imposing income tax equally on non-profit private universities under the Trust Act 1882 and on medical colleges and engineering colleges under the Companies Act 1994 is in conflict with the prevailing law.
The private universities have to build their own permanent campuses, develop labs and libraries, recruit teachers, conduct research activities etc at their own expense.
According to the law regarding private universities, the founders of the university cannot accept any kind of money from the internal income, the organisational head noted in the statement.
"If 15% income tax is imposed, the development of these institutions will be hampered and the education expenses of the students will also increase under the pressure of the tax," their statement read.
