The Institute of Cost and Management Accountants of Bangladesh (ICMAB) is urging the government to implement a Tk50 tax per guest for social gatherings, such as weddings, hosting over 100 attendees and held outside one's residence, starting from the next fiscal year.
This suggestion was put forth during a pre-budget session held at the National Board of Revenue (NBR) headquarters in Agargaon, Dhaka, on Sunday.
Md Abdur Rahman Khan, a member of the ICMAB delegation and former president of the body, called for the introduction of a provision to impose a Tk50 advance tax per guest for booking a hotel, restaurant or community centre for hosting more than 100 guests for a wedding, bridal shower, birthday, wedding anniversary or any other social event other than business purpose.
Abdur Rahman, also an additional secretary at the finance ministry, emphasized the love of Bangladeshis for festivals, noting significant expenditures associated with such occasions.
He said many individuals, despite lacking tax files, splurged considerable amounts on lavish events, proposing that pre-booking tax payments could serve as a revenue stream.
Welcoming the suggestion, NBR Chairman Abu Hena Md Rahmatul Muneem expressed readiness to consider making proof of tax return submission obligatory.
He suggested that for bookings exceeding Tk5-Tk10 lakh at community centres, verifying tax return submissions could be a requirement, ensuring compliance with tax obligations.
