Tax-free income limit should be raised

BANGLADESH has the lowest tax-free income ceiling in South Asia which is only a quarter million Taka. In India the tax-free income limit is 30 per cent higher than that of ours with a starting tax rate of 5.0 per cent. Whereas high inflation has already taken its toll on our value of money, that is, as our money value had been decreasing, income tax ceiling should be raised so that financial hardships of people with lower income are reduced.

Pay rise for the government employees has triggered reasonably high rate of inflation in the country as a result of which cost of living has been climbing high. The government should therefore raise taxable income ceiling by at least 30 per cent so that buying power of the middle class which constitutes the majority of our population is not squeezed further.

Faisal Hossain

Uttara, Dhaka