No new tax in upcoming budget, Muhith assures

Published: June 04, 2018 20:41:05 | Updated: June 05, 2018 10:10:26

Finance Minister Abul Maal Abdul Muhith has said the government is not imposing any new tax in the upcoming national budget.

“The good news is there is a very limited increase in tax rates. Happiest things for the people, that’s all,” he said.

Muhith also said they were not changing the tax slabs like in the previous budget, reports

The finance minister revealed the ‘good news’ to reporters at the Secretariat on Monday while talking about the budget for the 2018-19 fiscal year.

Muhith will propose new budget in parliament on Thursday, a few months before the general elections.

“Many countries don’t change it. It’s already very high. I don’t see any reason to raise it time and again,” he said.

Muhith earlier said he was planning a budget of over Tk 4.5 trillion for the next financial year.

On Monday, the minister said he was banking on the increased number of taxpayers instead of imposing new taxes to meet the revenue target.

 “We targeted 1.5 to 2 million citizens to submit tax returns. But the number has already crossed 3.3 million. It’s raising hope for the future. The days are getting better. Most of the new taxpayers are young people,” Muhith said.     

He credited a change in the mindset of National Board of Revenue officials for the rise in number of taxpayers. “Harassments have dropped, the process has eased.”     

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