Dhaka, Friday, October 20, 2017

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Muhith for increasing holding tax in Dhaka city

DHAKA, August 10, 2017 (BSS)- Finance Minister AMA Muhith today called for increasing holding tax in the two Dhaka city corporations to enhance revenue earning for ensuring civic facilities.

"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.

The minister was speaking at a policy dialogue on "Improving Fiscal Transparency in Bangladesh", organised by the Policy Research Institute (PRI), at a hotel in the city.

Muhith 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.

He underscored the need for alleviating poverty to take the country to a middle income status.

"We should continuously alleviate poverty as there is no scope to be complacent by becoming a middle income country," he added.

PRI Chairman Dr Zaidi Sattar moderated the dialogue while economist Siddiqur Rahman, former secretary of the Finance Ministry Zakir Ahmed Tareq and former commerce secretary Shoel Chowdhury, were present, among others.