Dhaka, May 21 -- Individuals with annual income above Tk 15 million may have to pay income tax at the rate of 35 per cent from the upcoming fiscal year.

Currently, individual taxpayers with annual income above Tk 3.85 million are subject to a 30 per cent tax rate.

Officials at the revenue board say the upward adjustment aims to mobilise higher tax revenue from high-net-worth individuals (HNWIs) in a bid to lessen the tax burden on low-income people.

The new rate is expected to become effective for individual income earned in FY27.

The Medium and Long-term Revenue Strategy (MLTRS) for FY26 to FY35, published by the National Board of Revenue (NBR) in June 2025, indicates the plan to increase the tax incidence on HNWIs.

Talking to the F...