Govt Considers Minimum Tax Imposition Regardless of Income

Economic Tag: Vat & Tax

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.

Source for more details:

Related News

Tax Evasion Hits Tk 226,236 Crore In 2023 Says CPD

April 22, 2025

In 2023, tax evasion in Bangladesh reached Tk 226,236 crore, with corporate tax evasion alone accounting for approximately Tk 113,118 crore—about 50% of the total—according to a CPD study based on 103 listed companies.

NBR Declines IMF’s Additional Tk 570B Tax Collection Target

April 9, 2025

The National Board of Revenue (NBR) of Bangladesh has declined the International Monetary Fund's (IMF) proposal to increase tax collection by an additional Tk 570 billion for the upcoming fiscal year. In a recent meeting, NBR officials conveyed that the current economic conditions are not conducive to imposing such a substantial tax burden.

Benapole Revenue Up 13.19% Despite Import Drop

March 19, 2025

Benapole, Bangladesh’s busiest land port, recorded a 13.19% revenue growth despite a decline in imports. For FY25, the customs house targeted Tk6,705 crore in revenue, with Tk4,453.31 crore expected in the first eight months.

CPD Predicts Tk 1.05 Trillion Revenue Shortfall for FY25

March 18, 2025

The Centre for Policy Dialogue (CPD) warns that Bangladesh’s revenue shortfall may reach Tk 1.05 trillion in FY25, as revenue collection grew only 4.4% in July-December, making a 55% increase in the remaining period unrealistic.

NBR Cuts Source Tax on Fresh Fruit Imports to 5%

March 17, 2025

The National Board of Revenue (NBR) has reduced the source tax on imported fresh fruits from 10% to 5%, as per a Statutory Regulatory Order (SRO) issued by the Income Tax Wing on Thursday. The tax applies to fresh or dried oranges, citrus fruits, grapes, lemons, apples, and pears.

NBR Cuts Source Tax on Imported Fresh Fruits to 5%

March 15, 2025

The National Board of Revenue (NBR) has reduced the source tax on imported fresh fruits, including oranges, malta, grapes, apples, and pears, from 10 percent to 5 percent to stabilize domestic prices during Ramadan.

Related News

Tax Evasion Hits Tk 226,236 Crore In 2023 Says CPD

April 22, 2025

In 2023, tax evasion in Bangladesh reached Tk 226,236 crore, with corporate tax evasion alone accounting for approximately Tk 113,118 crore—about 50% of the total—according to a CPD study based on 103 listed companies.

NBR Declines IMF’s Additional Tk 570B Tax Collection Target

April 9, 2025

The National Board of Revenue (NBR) of Bangladesh has declined the International Monetary Fund's (IMF) proposal to increase tax collection by an additional Tk 570 billion for the upcoming fiscal year. In a recent meeting, NBR officials conveyed that the current economic conditions are not conducive to imposing such a substantial tax burden.

Benapole Revenue Up 13.19% Despite Import Drop

March 19, 2025

Benapole, Bangladesh’s busiest land port, recorded a 13.19% revenue growth despite a decline in imports. For FY25, the customs house targeted Tk6,705 crore in revenue, with Tk4,453.31 crore expected in the first eight months.

CPD Predicts Tk 1.05 Trillion Revenue Shortfall for FY25

March 18, 2025

The Centre for Policy Dialogue (CPD) warns that Bangladesh’s revenue shortfall may reach Tk 1.05 trillion in FY25, as revenue collection grew only 4.4% in July-December, making a 55% increase in the remaining period unrealistic.

NBR Cuts Source Tax on Fresh Fruit Imports to 5%

March 17, 2025

The National Board of Revenue (NBR) has reduced the source tax on imported fresh fruits from 10% to 5%, as per a Statutory Regulatory Order (SRO) issued by the Income Tax Wing on Thursday. The tax applies to fresh or dried oranges, citrus fruits, grapes, lemons, apples, and pears.

NBR Cuts Source Tax on Imported Fresh Fruits to 5%

March 15, 2025

The National Board of Revenue (NBR) has reduced the source tax on imported fresh fruits, including oranges, malta, grapes, apples, and pears, from 10 percent to 5 percent to stabilize domestic prices during Ramadan.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here