Tk 2,000 minimum income tax as proof of submission of returns

Finance Minister AHM Mustafa Kamal has proposed a minimum income tax of Tk 2,000 for those who are required to file income tax returns in order to use a number of government services, even if they do not have taxable incomes.

"I propose to make the minimum tax Taka 2,000 among competent people who are below taxable income but has obligation to submit income tax return to take service from the government with a view to circulating this participation in the government welfare work," he said.

The finance minister made the proposal while placing the national budget for 2023-24 fiscal year at Jatiya Sangsad on Thursday.

Currently, registered taxpayers must file their income, spending, and wealth statements and have proof of timely filing in order to get 38 different services.

The present minimum tax rate of Tk 5,000 will remain in effect for people with taxable income in the three city corporations of Dhaka North, Dhaka South, and Chattogram.

For other municipal corporations, the minimum tax rate is Tk 4,000, and for other areas, it is Tk 3,000. Both prices are valid for the next year.