FY24 Budget: Increase in travel cost, agents to find taxpayers

Bangladesh has recorded a persistent inflation rate above 8 percent over the past nine months, which has pushed up the cost of living. Lower-middle and middle-income groups may struggle to pay taxes as they do not have any notable savings. According to sources, the next budget is likely to bring some relief for them.

The tax-exempt income limit, which is currently Tk 300,000, may increase to Tk 320,000 or Tk 350,000 this year.

At present, it is not mandatory to show proof of income tax return for investments in savings certificates up to Rs 500,000. This limit may be increased to one million taka in the next budget.

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