BANGLADESH BUDGET 2017-2018
The Finance Minister of Bangladesh Mr. Abul Mal Andul Mohit
Was Briefed The 2017-2018 Budget On 01 June 2017. The Total Amount Of Cost 4,00,266 Cr Taka. All Par lament Members And Prime Minister were Present During the Budget Announced.
In the Budget 2017-2018 There are Many product price has been Incise and some of decries.
The short list of product which are increase also decries on the new budget 2017-2018 and also the details on paper cutting below...
The government's move to keep tax-free income threshold and the tax rates on individuals and firms unchanged in the next fiscal year is likely to affect many low and middle income people who would be new to income taxes.
A reduction in personal income tax will help boost people's
disposable income, especially of the middle-class, said Debapriya
Bhattacharya of CPD in April when the think-tank unveiled its proposals
for the next fiscal year.
“This cut will bring more revenue to the state as it will increase domestic consumption,” he said.
To encourage compliance and inspire new taxpayers, Muhith yesterday proposed giving the title “Kor Bahadur” to families, in which all members have been paying taxes for a long time.
In addition to individual taxpayers, all corporate tax, except the tobacco processors', including cigarettes makers', are also going to remain unchanged.
Tobacco processors will have to count 2.5 percent surcharge on their income on top of paying 45 percent corporate tax.
Affluent people will continue to face similar net wealth surcharge structure. Muhith said this should be maintained until an effective wealth tax act is enacted.
Some measures, making it mandatory for employees serving in an executive or a management position in private firms to submit tax returns, are going to bring more people under the tax net.
“We will focus on compliance of laws in the coming year to ensure
increased collection of tax,” Muhith said, adding that the tax authority
will go for auditing firms to see whether they have properly deducted
tax at source.
In the Budget 2017-2018 There are Many product price has been Incise and some of decries.
The government's move to keep tax-free income threshold and the tax rates on individuals and firms unchanged in the next fiscal year is likely to affect many low and middle income people who would be new to income taxes.
“This cut will bring more revenue to the state as it will increase domestic consumption,” he said.
To encourage compliance and inspire new taxpayers, Muhith yesterday proposed giving the title “Kor Bahadur” to families, in which all members have been paying taxes for a long time.
In addition to individual taxpayers, all corporate tax, except the tobacco processors', including cigarettes makers', are also going to remain unchanged.
Tobacco processors will have to count 2.5 percent surcharge on their income on top of paying 45 percent corporate tax.
Affluent people will continue to face similar net wealth surcharge structure. Muhith said this should be maintained until an effective wealth tax act is enacted.
Some measures, making it mandatory for employees serving in an executive or a management position in private firms to submit tax returns, are going to bring more people under the tax net.
No comments: