New taxpayers will pay Tk 1,000 tax if their annual taxable income falls below Tk 450,000.
After five years, the income tax rate for the highest bracket is likely to revert to 30 percent in the upcoming fiscal year as part of the government’s efforts to address growing inequality — an issue that is among the country’s major economic concerns.
The National Board of Revenue (NBR) has for a second time extended by a month the deadline for individual taxpayers to file tax returns.
The government has moved away from its decision to raise the highest income tax rate to 30 percent and end tax holidays for investors in economic zones and hi-tech parks.
While the cost of living remains high, with the inflation rate hovering at over 9 percent throughout the year, no ray of hope came for the common people in the budget declared yesterday. This is upsetting for the low and middle-income groups of society.
The tax measures unveiled yesterday for 2024-25 are not going to provide any relief to taxpayers.
Threshold increased for women, senior citizens, physically challenged persons, third gender, freedom fighters
In the coming year, the NBR may announce tax rates that will not only be applicable for the outgoing income year 2023-24 but also for the next income year 2024-25.
The port city’s income tax department handed over the best taxpayer awards
The income tax law explains the issue
The revenue authority desperately needs to accelerate tax collection in order to enable the country to widen its capacity to spend more from its own coffer and cut reliance on external funds, said its chief yesterday.
The price of mild steel (MS) rod may soon cross Tk 1 lakh per tonne as production costs have risen due to a recent hike in fuel and energy prices amid the ongoing US dollar crisis, according to industry people.
The state coffers were robbed of Tk 258 crore for 26 counts of irregularities by the Chattogram Port Authority between fiscal 2017-18 and 2019-20, found the Comptroller and Auditor General (CAG).
Bangladesh’s steady embrace of digitalisation, spearheaded by a growing number of tech startups and rising software and IT service exports, has suffered a heavy blow from the imposition of new taxes this year.
The National Board of Revenue today extended the deadline for income tax return submission till December 31.
The National Board of Revenue (NBR) may extend by one month the deadline for the submission of income tax returns amid demands from various quarters, said officials today.
Abdul Karim is not worried about the tax liability of Tk 51,500 because he has invested enough money in the specified areas and he knows that an investment allowance is the legal way to get a tax rebate. And this tax credit will help him reduce the tax significantly.
Are you going to submit your tax return by November 30 this year? Then it is better to know what important things you need to check before filing the tax return.
Bank accounts with upwards of Tk 1 crore in balance are set to face a higher excise duty next fiscal year as the government looks to collect more taxes from the relatively well-off to get close to the lofty revenue collection target.
