Budget FY23: Capital gain from govt securities to come under tax net

"As per existing provision, the capital gain earned from government securities is kept out of the purview of taxation. In line with other securities, I propose to make such capital gain taxable," he said while placing the proposed national budget for FY23 at the Jatiya Sangsad.

Kamal said, "It is expected that bringing discipline in the public financial management by reforming revenue policy and rationalizing the tax rate for the private sector will reaffirm our advancement in different economic indicators."

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At present, bad debt that is written off by a bank or financial institution is tax exempt for all taxpayers, he added.

He said, "I propose that bad debt that is written off for all types of taxpayers, except for individuals, is considered taxable income for the concerned loan defaulter."

"In pursuit of rationalizing the prevailing tax rate for the private sector, I propose to consider the tax collected from import of beverage concentrate, export of services, operation of inland ships and commercial vehicles as minimum tax," he added.