Individual income tax to remain unchanged

Individual income tax to remain unchanged

Individual income tax to remain unchanged Finance Minister AHM Mustafa Kamal has proposed keeping the individual tax rate unchanged in the proposed national budget for 2021-22 fiscal. "I propose to keep the rate of tax applicable for individual taxpayers unchanged as significant changes has already been brought to this effect in FY 2020-2021," he told parliament while delivering his budget speech Thursday (June 3) afternoon. In the previous budget, the government had raised the threshold of tax-free income to Tk 3 lakh from Tk 2.5 lakh after five years. In the proposed budget, the Finance Minister made it clear that the existing tax rate for individual taxpayers will also be applicable on the taxpayers of third gender community. This proposal was made for social inclusion of third gender people in addition to introducing a special provision for them, said Mustafa Kamal.
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