A Closer Look at the Income Tax Act 2023: Tax Reform in Bangladesh

“Nothing can be said to be certain, except death and taxes” – a famous quote by the American Statesmen Benjamin franklin connects directly to the prevailing scenario of Bangladesh. For almost all the major services today, a citizen is asked to provide documents related to his/her income tax. Doing so, the government makes sure that the majority of the eligible population is under the radar of taxation. Why wouldn’t it do so? After all, about 80% of public revenues are derived from tax sources. For the fiscal year 2022-2023, revenue receipt from NBR (National Board of Revenue) sources was 370000...

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