Prime Minister Tarique Rahman has proposed withdrawing the requirement to obtain a Taxpayer Identification Number (TIN) to open bank accounts and register property.
Speaking during the discussion on the proposed FY2026-27 budget in parliament today (29 June), he also called for the removal of the proposed provision allowing the whitening of undisclosed money in the budget.
Moreover, the prime minister proposed raising the tax-free income threshold for individual taxpayers.
He said the proposed budget sets the tax-free income limit at Tk3,75,000 for the 2026-27 and 2027-28 tax years, Tk4,00,000 for the 2028-29 and 2029-30 tax years, and Tk4,50,000 for the 2030-31 tax year.
He proposed increasing the limits to Tk4,00,000 for the 2026-27 and 2027-28 tax years, Tk4,50,000 for the 2028-29 and 2029-30 tax years, and Tk5,00,000 for the 2030-31 tax year.
The prime minister also proposed reducing the tax rate for private universities, expanding tax exemptions for small ethnic communities, and lowering duties and taxes on shrimp, productive industries, and imported raw materials for local industries.
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