Want to rent a community centre? You need proof of tax return!

With the goal of expanding the tax net, the government has proposed that proof of tax return be submitted by individuals looking to avail the services of community centres, convention halls, or similar establishments.

One of the government's main economic headaches going into the new fiscal year was the low tax-to-GDP ratio in the country. In fact, Bangladesh has one of the lowest tax-to-GDP ratios in the world. Raising this ratio was one of the key conditions to the IMF's loan of $4.7 billion, but so far, collecting taxes has been a challenge.

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What gets cheaper, what gets costlier

In the budget for fiscal year 2024-25, the NBR had suggested several measures for expanding the tax net.

If business establishments are unable to produce proof of tax return on their premises, a minimum fine of Tk 20,000 has been determined.

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Mobile calls and internet services to get costlier

Submitting proof of tax return has been made mandatory for obtaining and renewing licenses of hotels, restaurants, motels, hospitals, clinics, and diagnostic centres.

Furthermore, it is now going to be compulsory to submit proof of tax return when availing services community centres, convention halls, or similar service providers. These services may include weddings, birthday parties, or any sort of social event.