Snehasish Barua

Bangladesh currently languishes at the bottom of the global ranking with a mere 6.5 percent tax-to-GDP ratio. For a nation whose citizens hold profound aspirations for development, peace, and prosperity, this chronic revenue deficit poses an existential threat to future growth.

Before embracing this seemingly attractive fiscal tool, we must ask a critical question: why did Bangladesh abolish the Wealth Tax Act of 1963 in the first place

Following the installation of the interim government, a multi-pronged strategy was launched to curb inflationary pressure

The Income Tax Act 2023 came into effect in June. The law, which replaced the Income Tax Ordinance 1984, has received appreciation from various quarters. At the same time, it has created some concerns among finance and tax professionals regarding compliance challenges. 

I extend my sincerest thanks to the National Board of Revenue (NBR) for amending several provisions of the Finance Bill 2019 and a