More income tax measures may be proposed June 4

Some major income tax measures for the upcoming Fiscal Year (FY) may be proposed in Parliament on June 4 while placing a new draft law of income tax.

The Finance Bill-2023, placed with the National Budget for FY 2023-24 on Thursday, has skipped the inclusion of a number of measures on direct tax as those would come with the new law.

Bangladesh is going to get a full-fledged direct tax law from July 1, after 100 years.

Income Tax Law-1922 was scrapped with the Income Tax Ordinance-1984.

Except for the upward revision of the tax-free threshold, imposition of minimum tax Tk 2,000, wealth and environmental surcharges and few more measures, other changes would be proposed in Parliament on June 4, said a senior official of the Ministry of Finance (MoF).

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