Government considers imposing a minimum tax of Tk2,000 on individuals filing tax returns, regardless of taxable income, which may burden low-income earners and contradict tax-free thresholds. Currently, 86 lakh TIN holders exist, but only 32 lakh file tax returns. If applied to all TIN holders, the minimum tax would generate Tk1,240 crore from 62 lakh individuals. NBR aims to make tax return submission mandatory for public and private services. Concerns arise regarding the financial strain on low-income individuals. The proposals await legal review before inclusion in the upcoming budget. A provision for TIN deregistration is also being introduced. The implementation of a minimum tax aims to ensure fairness in the tax system but should consider the impact on low-income individuals and overall tax burden distribution.
Govt Considers Minimum Tax Imposition Regardless of Income
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