Dhaka, March 2 -- To begin with, our tax-GDP ratio is one of the lowest in the world. It is less than 10 per cent here, 13 per cent in India, 11 per cent in Indonesia, and more than 30 per cent in the western countries. There is pressure for a long time from national and international bodies to increase tax revenue. Various discriminated exemptions and allowances (tax free income) are one of main causes of low tax revenue.

INCOME OF AN INDIVIDUAL: In Bangladesh, according to Income Tax Act 2023, an individual may have seven categories of income like income from employment, income from agriculture, income from rent, interest income, income from business, capital gain, other income such as dividend and royalty. These incomes except capital...