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The National Board of Revenue (NBR) has further slashed land tax for peripheral areas following a significant decline of registration due to an escalated tax burden.
Tax ceiling on land per katha will be reduced by Tk 30,000, thanks to the latest cutback in the source tax rate at 6.0 per cent from 8.0 per cent.
In a statutory regulatory order (SRO) on Monday, the tax wing of the NBR cut the rate by 2.0 per cent for some upazilas under Dhaka, Gazipur, Narayanganj and Chattogram.
However, the reduced rate will not be applicable to registration by commercial land development city authorities in Dhaka, Chattogram and Gazipur.
The same applies to the National Housing Authority, Public Works Department and Cantonment Board or residential land under above-mentioned entities, but developed by real estate companies, reads the SRO.
However, the latest cut aims to benefits marginal taxpayers to register land without a heavy tax burden.
With the latest cut, land registration tax will be Tk 20,000 instead of earlier Tk 50,000 for Dohar, Nawabganj, Keraniganj, Savar and Dhamrai mouzas under Dhaka.
For Khulshi, Panchlaish, Pahartali, Halishahar and Koarali mouzas under Chattogram, the rate will stand at Tk 50,000. Land tax for Sonargaon, Fatullah and Siddhirganj mouzas under Sonargaon upazila will be Tk 50,000.
On the other hand, the rate is Tk 30,000 for Gazipur Sadar, Bashon, Konabari, Gacha and Tongi areas.