Proposed minimum tax of Tk 2000 likely to be scrapped

The proposed minimum tax of Tk 2000 for the fiscal 2023-24 is likely to be scrapped.

The finance minister AHM Mustafa Kamal may withdraw the provision, which drew huge criticism from all quarters.

The Centre for Policy Dialogue (CPD) slammed the government saying the provision is neither justified nor ethical.  

According to the proposed budget for fiscal 2023-24, individuals -- who do not have taxable incomes -- will have to pay a minimum income tax of Tk 2,000 to avail 44 types of government services. The budget will be passed in the parliament next week.

Before that the finance bill of 2023 will be approved -- where the finance minister may withdraw the proposal, said a reliable source of National Board of Revenue (NBR).