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Minimum Tax of Tk 2,000 for Taxpayers Seeking Services

Economic Tag: Vat & Tax

The Bangladesh finance ministry is considering implementing a minimum tax requirement for taxpayers who need to file returns to avail various services. Under this plan, individuals would be required to pay a minimum tax of Tk 2,000, even if they have no income. Currently, submission of tax returns is mandatory for taxpayers seeking services such as bank loans exceeding Tk 500,000, becoming a company director or shareholder, and obtaining trade licenses or registration certificates.

Proof of return submission is also necessary for activities like maintaining a credit card, opening postal savings accounts, or purchasing state-sponsored savings instruments. Registered taxpayers with bank accounts holding over Tk 10 lakh must also submit tax returns. Starting from the next fiscal year, individuals falling below the zero-tax rate threshold may be required to pay the minimum tax.

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