Affluent people may have to pay higher taxes in the upcoming fiscal year under amended wealth-tax provisions in the new budget, among some other changes in fiscal measures.
The base of calculating surcharge would be actual payable taxes instead of existing tax at source or annual business turnover of individual taxpayers.
With the changes, the tax from well-off quarters would see a quantum leap, officials say.
The outgoing FY2023-24 budget has offered a benefit for wealthy people through raising their tax-free limit for wealth surcharge.
In 2023-24, the previous AL-led government facilitated the well-off section of society by raising the minimum ceiling to Tk 40 million from Tk 30 million. It was kept unchanged in the current year’s budget.
Currently, the surcharge payable up to the net asset value of Tk 40 million is zero-rated.
In addition, black-money-holders may have to pay three-to five-time higher taxes than the existing rates in the upcoming fiscal year to whiten their money investing in real estate.বিস্তারিত