There is no new incentive for local industry development in the proposed fiscal budget

He also proposed keeping the duty in force until June 30 of 2025.

The unquestioned amnesty to bring back money stashed abroad is not going to continue in 2023-24 fiscal year, which begins in July.

“If a person is not liable for tax, how can you really tax the person? This is a desperate attempt to increase direct taxes,” he added.

The prices of imported software are set to increase after Finance Minister AHM Mustafa Kamal proposed to increase the import duty from 5% to 25% on imported software in the proposed budget for the next fiscal year 2023-24.

The government wants to keep the corporate tax rates unchanged for all sectors for the fiscal year 2023-24, said Finance Minister AHM Mustafa Kamal today.

Owners of more than one car will face an environmental protection surcharge from 2023-24 as the government looks to discourage the use of vehicles in a bid to curb environmental pollution.

Domestic air travellers will face a travel tax for the first time from 2023-24, while people going abroad will pay up to 67 percent higher taxes.

Finance Minister AHM Mustafa Kamal today proposed increasing the tax-free income limit to Tk 3.5 lakh from the existing Tk 3 lakh for individual taxpayers for 2023-24 fiscal year.

Says economist MM Akash

Says Sanem Executive Director Selim Raihan