There is no new incentive for local industry development in the proposed fiscal budget
The unquestioned amnesty to bring back money stashed abroad is not going to continue in 2023-24 fiscal year, which begins in July.
“If a person is not liable for tax, how can you really tax the person? This is a desperate attempt to increase direct taxes,” he added.
The prices of imported software are set to increase after Finance Minister AHM Mustafa Kamal proposed to increase the import duty from 5% to 25% on imported software in the proposed budget for the next fiscal year 2023-24.
The government wants to keep the corporate tax rates unchanged for all sectors for the fiscal year 2023-24, said Finance Minister AHM Mustafa Kamal today.
Owners of more than one car will face an environmental protection surcharge from 2023-24 as the government looks to discourage the use of vehicles in a bid to curb environmental pollution.
Domestic air travellers will face a travel tax for the first time from 2023-24, while people going abroad will pay up to 67 percent higher taxes.
Finance Minister AHM Mustafa Kamal today proposed increasing the tax-free income limit to Tk 3.5 lakh from the existing Tk 3 lakh for individual taxpayers for 2023-24 fiscal year.