Staff Reporter :
In the wake of relentless economic challenges and the persistent shadow of inflation, the budget declaration from Finance Minister Abul Hassan Mahmood Ali unveils a stance of fiscal continuity.
The country remains resolute in its decision not to adjust the threshold for tax-exempt income in the forthcoming budget.
Yet, amidst the prevailing fiscal strain, a glimmer of relief emerges for the middle class, characterized by a nuanced relaxation in tax rates.
Moreover, in a strategic move aimed at fostering equity in taxation, the proposal to expand the number of tax slabs from six to seven is set to ensure a more equitable distribution of tax burdens, particularly targeting those with higher incomes.
In a testament to stability and prudence, the Finance Minister preserves the maximum level of tax-free income at Tk 350,000, mirroring the precedent set in the previous fiscal year.
In a comprehensive address outlining the fiscal trajectory for the upcoming year, Finance Minister Abul Hassan Mahmood Ali presented a series of proposals aimed at refining the tax landscape while ensuring equity and inclusivity.