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Dhaka Tribune

People with no income still have to pay Tk2,000 to collect tax returns

'One of the responsibilities of a citizen is to by pay the minimum tax in return for the privileges provided to them by the state'

Update : 01 Jun 2023, 05:46 PM

Finance Minister AHM Mustafa Kamal on Thursday proposed a minimum Tk2,000 tax on people, who do not have taxable income, but will still file tax returns. 

During his budget speech for FY24, he said: "I propose imposing a minimum tax of Tk2,000 among competent people who are below taxable income but have an obligation to submit income tax returns to take service from the government to circulate this participation into government welfare work."   

One of the responsibilities of a citizen is to ensure their participation in the government's welfare work by paying the minimum tax in return for the privileges provided to them by the state, he added.

As per budget documents, the minimum tax for a taxpayer, except company taxpayers, residing in Dhaka North City Corporation, Dhaka South City Corporation and Chittagong City Corporation will remain unchanged at Tk5,000.

The figures for any other city corporation will be Tk4,000 and for other areas Tk3,000.

The government aims to maintain this structure of minimum tax unchanged for the next year. 

Currently, there are around 8.6 million individual TIN holders, but only 3.2 million submit tax returns, indicating that they declare their income, expenses, and pay taxes accordingly.

Among the individuals who submit tax returns, approximately 800,000 do not have taxable income.

If these individuals are made to pay the minimum tax of Tk2,000, the government will generate an additional revenue of Tk160 crore.

The minimum tax is expected to generate additional revenue of Tk1,240 crore.

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