The total amount of tax subsidies given in the form of rebates, discounts, exemptions and reduced rates will be Tk 1,78,241 crore in the current financial year.

The government will bring the payments of all cash-based social safety net programmes under the electronic fund transfer system from the coming fiscal year.

The allocation for the ICT Division may increase by Tk 452 crore to Tk 2,368 crore in the proposed budget for 2023-24 fiscal year.

Finance Minister AHM Mustafa Kamal today proposed increasing the social safety net programme allocation by 11 per cent year-on-year for fiscal year 2023-24.

Individuals who are required to submit income tax returns to avail of various government services will have to pay a minimum tax of Tk 2,000 even if they do not have taxable incomes.

As the cost of living continues to rise, it has becoming increasingly challenging for the middle class to maintain financial stability.

The budgetary allocation to the Ministry of Science and Technology may decline by Tk 3,007 crore or 22 per cent to Tk 13,607 crore in the proposed budget for 2023-24 fiscal year.

The total budget for Election Commission increased by Tk 868 crore in the election year.

Finance Minister AHM Mustafa Kamal today proposed formulating rules for authorising tax return preparers (TRPs) in Bangladesh with a view to expanding the tax net by adding more individual taxpayers.

Finance Minister AHM Mustafa Kamal unveils a proposed budget of Tk 761,785 crore for the 2023–24 fiscal year in the national parliament today.

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.

The proposed budget will be 15.2 per cent of the Gross Domestic Product (GDP), according to the budget speech of the finance minister.

Since the budget is a political process, the rules of the budgetary game are set within that continuum.

The government’s foreign debt servicing burden may rise by as much as 45 percent in the next fiscal year due to the devaluation of taka and higher utilisation of foreign loans in recent years.

In 2019, when AHM Mustafa Kamal took charge as the finance minister, the Bangladesh economy was taxing for take-off for its long-haul flight to the developed country club.

High corporate taxes on banks, non-bank financial institutions, merchant banks, insurance companies and telecommunication companies are not logical as their profit is not high compared to capital, said Shahidul Islam, chief executive officer of VIPB Asset Management Company.

The voices of disadvantaged groups, the poor and small entrepreneurs have remained unheard when it comes to policy-making as fiscal policies have been captured by vested sections of society, alleged Towfiqul Islam Khan, a senior research fellow of the Centre for Policy Dialogue.