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Economists Critique 15% Tax Provision in Proposed Budget

Economic Tag: Vat & Tax

Speakers at a Dhaka University economics department event critiqued the proposed national budget for the 2024-25 fiscal year. They highlighted concerns over the provision allowing whitening black money by paying a 15% tax, labeling it as encouraging corruption and unjust. Criticism was directed at the tax disparity between legal earners (paying over 30% tax) and black money holders. The government’s target to reduce inflation to 6.5% and achieve a GDP growth of 6.75% was questioned, emphasizing the need for stabilizing the exchange rate and financial sector reforms. Disappointment was expressed over the budget’s failure to meet expectations amidst economic crisis, with calls for prioritizing stability over rapid growth.

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