It says income tax, which is also known as direct tax, is one of the major sources of internal revenue collection. Currently, income tax contributes nearly 35 percent of the total revenue collected by the National Board of Revenue (NBR). The average growth in income tax collection has been above 15 percent in recent years. The government from this fiscal announced to provide tax rebate of Tk2,000 to all the taxpayers who will file their income tax returns online for the first time. "I hope this will highly encourage the taxpayers to submit their income tax returns online, which will in turn expedite the process of digital transformation of the Income Tax Department," Finance Minister AHM Mustafa Kamal said in his budget speech.

Source: Dhaka Tribune July 11, 2020 13:30 UTC