The number of wealthy people in the country grew 6.80 per cent this fiscal over the previous year, swelling the wealth-tax collection by 42 per cent, revenue data show.
A total of 11,670 tycoons having net asset above Tk 22.5 million paid wealth surcharge worth Tk 3.60 billion in the fiscal year 2016-17.
Last year, some 10,927 such well-off people paid Tk 2.54 billion in wealth tax to the public exchequer.
In 2014-15, a total of 10,152 people paid Tk 2.08 billion worth of wealth surcharge based on their income-tax returns.
Dr Mustafizur Rahman, distinguished fellow at the Centre for Policy Dialogue (CPD), said there is scope to increase further the number of rich taxpayers.
"The number shows that a large section of rich people are not in the net of wealth surcharge. Although the well-off people grew almost by 7,000 in a year, the net could be broadened," he added.
Household Income and Expenditure Survey can be followed for examining the growth in well-off people, he suggested.
The economist, however, said the growth in wealth-tax receipts is quite satisfactory and the government should not raise tax rate further.
"Those who are paying tax at high slab have fallen in to marginal rate 37-38 per cent. Tax base should be increased rather than increasing tax rate," he added.
Well-off people having net wealth above Tk 22.5 million have to pay wealth surcharge ranging from 10 per cent to 30 per cent of the payable income tax on the basis of their net wealth that they have shown in their income-tax returns.
The income tax law has fixed Tk 3,000 as minimum surcharge for opulent people.
Recently, field offices of the income tax wing of the revenue board found another 682 rich people who have assets to pay wealth tax.
Officials said those well-off people have net assets above exemption limit for wealth surcharge but not paying the wealth tax.
In a recent meeting, on March 02, 2017, the revenue board instructed field-level income-tax officials to take measures for bringing them onto the net of wealth surcharge.
The NBR also asked them to properly scrutinise the income-tax returns of wealthy people and, if necessary, bring those under audit to ensure proper collection of the tax.
The NBR introduced wealth surcharge first in the country in FY 2011-2012.
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