Undesirable Income Tax system
I welcome the government's new income tax system, but the 16,000 taka over which income tax may be charged is inadvisable.
A simple double-bedroom house in Dhaka charges a rent of at least 15,000 taka. The remaining amount is spent on food, education, medical bills etc. As a result savings become almost non-existent unless both husband and wife have incomes.
Following the UK tax system deducting income tax at source would be better. This would allow greater tax revenue for the government and also relieve taxpayers from having to submit income tax return. At the end of the financial year, the NBR would send a statement to taxpayers stating the total income and tax paid.
With the sovereign power of the Republic belonging to the people, it is only fair for us to demand a transparent disclosure of financial and non- financial benefits enjoyed and the tax paid by all concerned parties. This will enhance the public's trust in the government and also encourage us to pay our fair share.
A. Amin
Mohammadpur, Dhaka
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