Dhaka, May 7 -- Despite calls from businesses and research groups for tax relief amidst rising inflation, the National Board of Revenue (NBR) is unlikely to propose an increase in the tax-free income limit for individuals in the upcoming national budget for fiscal years 2024-25.
NBR sources confirmed that there will be no official proposal for a higher threshold, and the final decision rests with the government after parliamentary discussions.
The current fiscal year saw an increase in the tax-free income limit to Tk 350,000 for individual taxpayers. Additionally, the limit for women and senior citizens above 65 years of age rose to Tk 4 lakh, while physically challenged persons and third-gender taxpayers saw theirs climb to Tk 4.75 lakh....