Finance Minister AMA Muhith today submitted his income tax return and paid Tk 2,12,611 income tax for fiscal year 2016-17 (Assessment Year) against his net income of Tk 1.98 crore.
Last fiscal year, Muhith paid Tk 1, 17,533 income tax against his income of Tk 3,425,420. The finance minister filed his tax return online at secretariat office here. National Board of Revenue (NBR) Chairman Md Nojibur Rahman and high officials of the finance minister were present.
"When he took over the charge of the finance minister in fiscal year 2008-09 he had assets worth Tk 1.14 crore. Now, it has increased to Tk 1.98 crore. I earned the lion portion of these assets when I was in abroad, which is not taxable," he told journalists after filing the tax return.
He said the last date for filing of income tax return by individual tax payers is November 30 and the deadline will not be extended this year. In many countries including the United States income tax day is observed on a specific date and submission of income tax return is not allowed after that date, he said. "We've introduced such a day here this year and I hope it will continue in years to come".
Highlighting the advantages of submitting the tax return online, the finance minister said taxpayers had to face problems to assess the amount of tax. They would not have to face such problems as software will calculate the tax on the basis of asset statement while filing tax return online, he added.
"I think, tax payers will not have to face any hassle or harassment now," he said. Muhith said the new generation is getting inspired in paying tax and it was proved during the income tax fair this year. The government has taken various steps to encourage people to pay tax, he added.
Replying to a question, he said the government is appointing efficient people to the board of directors of banks to check corruption in the banking sector. Besides, the government is taking quick action against any irregularity in the banking sector, he added.
Source: Bangladesh Sangbad Sangstha (BSS)