Finance Minister AMA Muhith stated that the farmers of Bangladesh will have to pay income tax, although they were exempted from tax net so far.
“It is time for farmers to realise that they, too, must pay taxes because many have meanwhile become big farmers,” Muhith said at a discussion at Bangladesh Agriculture Research Council titled “Jatiya Budget 2016-17: prospect of Bangladesh Agriculture”.
Presided over by Prof. Shamsul Alam, Member of the General Economic Department of the Planning Commission, the meeting was held at the Krishibid Institute of Dhaka today. Among others, former Minister of Food and President of the Parliamentary Committee on Finance Ministry was present.
The Minister also said area of agriculture land has not increased over the years but advance of Agriculture have seen your eyes. The number of the farmers who have financial capacity to give tax to National Board of Revenue, he also hinted.
As per the suggestion of the Minister, the government should impose tax on local farmers in phases. Price of agriculture goods will increase due to impose tax in near future but we have no choice, he said.
At present, service holders and professionals who have an annual income over BDT 250,000 have to pay income taxes.