State and Scope of Property Taxation in Bangladesh
Section 5: Towards Reforming Property Tax System in Bangladesh
The reforms required
Curb tax evasion - ensure the property holders are paying the due tax
Ensure the valuations are based on market values - this is true for land development
(e.g., land buying/selling price), holding tax (e.g., return/income from the asset),
wealth surcharge (e.g., the current market price of assets), capital gains and stamp
duty
-
Gradually rationalise the tax rates various tax rates on land/house/apartment
registration combinedly are found to be a high burden which also discourages the
citizens from disclosing the market value
However, without other reforms being implemented, such steps may not be advised
State and Scope of Property Taxation in Bangladesh
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