Owners of more than one car are likely to face an environmental protection surcharge from the upcoming fiscal year as the government plans to discourage the use of vehicles in a bid to contain carbon emissions and air pollution.

The reduction of tax payable by companies by 2.5 percentage points at the beginning of this fiscal year of 2022-23 was a good move but a precondition on limiting cash transactions has not helped businesses reap the benefit.

The national budget for the current fiscal year has been a disappointment as it did not address the macroeconomic crisis emanating from the joint impacts of global inflationary pressure and Russia’s invasion of Ukraine.

The government should take specific steps through the upcoming national budget for 2022-23 to roll out a universal pension scheme, said an economist. 

The fiscal policy for the ongoing fiscal year has shied away from prioritising macroeconomic stability although several key indicators have come under serious stress owing to internal and external factors, said a noted economist.  

An increase in property tax is needed to curb rapid wealth accumulation and rising inequality as the rate in Bangladesh is one of the lowest in the world, said the Centre for Policy Dialogue (CPD) and analysts yesterday.

Progressive taxation on high-income people can work well to reduce the income inequality that has been deepening in Bangladesh for years, analysts said yesterday. 

The National Board of Revenue (NBR) could cut value-added tax (VAT) on sweets by half to 7.5 per cent, according to officials of the finance ministry.