The government has proposed that payment of house rents over Tk25,000 should be paid through banking system to deter tax evasion.
Finance Minister AMA Muhith yesterday told the parliament: “Amendments to the Income Tax Law will be made to define house rent. It is essential to bring transparency in the process of house rent collection to widen tax net and deter tax evasion.”
Earlier, the National Board of Revenue Chairman Md Ghulam Hussain proposed to pay house rent through banking system to prevent tax evasion of the house owners.
According to the NBR, they have identified around 162,000 houses and house-owners who could not say about their funding to build their respective houses.