Finance minister A M A Muhith has planned a new budget of Tk 1.91 trillion which doesn’t reflect the hope of the people. More over this budget proposal has already been disapproved by the leading economists of Bangladesh. Theoretically, this budget plan is not bad but achievement of goals depends on its practical implementation that is nearly impossible.
The government is trying and making all efforts to increase revenue from domestic sources as a result forcing people to carry a heavy tax burden. Income tax and value added tax seem to have caught the government eyes. Government has done injustice to taxpayers by increasing the minimum individual tax without raising the tax-free income threshold .Also new tax has implemented on mobile phone users.
The most negative side of this budgeting is the increase in minimum taxation from 2000 to 3000 while there is no change in personal income tax threshold that remains at taka 180000.the government should be ashamed of this decision, which does not reflect the people’s expectations.
2% tax added on the mobile phone bills and the amount recharged on pre-paid phone accounts which means if a prepaid mobile phone user recharge taka 100 he will have talk time of taka 98.overseas calls will be more costly as 1% tax is added to International Gateway services.
Depending on the location, prices of the lands will also increase; as tax will be, included 3% to 5%.Tax has also been increased to privately owned cars; sport utility vehicles and microbuses. Which have to pay during the renewal of the registration and fitness certificates. There is more increase of tax in some other sectors too.
Therefore, it seems that the budget of year 2012-13 is nothing but a proper injustice to the taxpayers. Surely well said by Debapriya, “the financing structure looks very ideal, but if the government can manage it is a big question.”