For the first time, the National Board of Revenue (NBR) has sought to grant opportunity to individuals and companies to de-register or make their taxpayer identification number (TINs) dormant owing to no taxable income and dissolution.
Individuals who are required to submit income tax returns to avail of various government services will have to pay a minimum tax of Tk 2,000 even if they do not have taxable incomes.
The government is going to unveil a Tk 7,61,785 crore budget for the next fiscal year on Thursday, setting containment of high inflation as a major target.
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.