Bangladesh, July 6 -- People filing income tax returns for the first time in the current fiscal year will continue to enjoy a reduced minimum tax of Tk 1,000.
The National Board of Revenue (NBR) has retained the benefit in the new fiscal year. First-time return filers will have to pay only Tk 1,000 as the minimum tax, while the minimum tax for existing taxpayers will remain Tk5,000.
According to relevant NBR sources, there are currently around 12.8 million Taxpayer Identification Number (TIN) holders in the country. However, only 4 to 4.2 million taxpayers submit income tax returns regularly each year.
The special minimum tax benefit has been retained to encourage new taxpayers to join the tax system.
From the new fiscal year, the tax-fr...