Published:  01:28 AM, 11 August 2017

Muhith for increasing holding tax in Dhaka

Muhith for increasing holding tax in Dhaka

Finance Minister AMA Muhith on Thursday hinted that the holdings tax for the Dhaka South and North City Corporations would be increased soon to enhance revenue earnings for ensuring civic facilities.

"I am expecting that two city corporations of Dhaka will regularize financial resources for themselves. Holding tax has not been rescheduled for nearly 60 years. I think, the elected two mayors of Dhaka North City Corporation (DNCC) and Dhaka South City Corporation (DSCC) should do something in this regard and they will do," he said.

He came up with the remarks while speaking at a policy dialogue on "Improving Fiscal Transparency in Bangladesh", organized by the Policy Research Institute (PRI) at a city hotel yesterday.  Finance minister said the existing holding tax was fixed in 1961 or 1962 and that is why new holding tax will have to be implemented in Dhaka city.

Underscoring the need for alleviating poverty to take the country to a middle income status he said, "We should continuously alleviate poverty as there is no scope to be complacent by becoming a middle income country."

Policy Research Institute (PRI) chairman Dr Zaidi Sattar moderated the dialogue. Among others, economist Siddiqur Rahman, former secretary to  Finance Ministry Zakir Ahmed Tareq and former commerce secretary Sohel Chowdhury, were present in the program.

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