The government has approved the draft Income Tax Act 2023, which has reduced the discretionary powers of tax officers and eased the paper requirement for businesses in filing tax returns.
After the Council of Ministers headed by Prime Minister Sheikh Hasina approved the draft on Monday, Cabinet Secretary Mohammad Mahbub Hussain said that once the law is passed, a mathematical formula will be used instead of discretion to calculate income tax. Will go
“The enumeration shall be based on objective information provided by a citizen and not on the subjective judgment of the officer.”