State and Scope of Property Taxation in Bangladesh
Section 2: Selected Global Practices of Property Tax
Property tax is an important source of tax revenue for
OECD countries after income tax, VAT and excise taxes
(mobilising 5.6% of the total tax revenue)
Australia, Canada, the United Kingdom and the United States
had more than 10% of total tax revenue as property tax
revenue in 2021 compared to Bangladesh, where property
tax accounted for only 0.24% of total tax revenue in 2021
- one of the weakest revenue collection sources.
Tax revenue composition of average OECD countries, 2021
(% of total tax revenue)
Consumption
Taxes, 32.1
Other, 2.9
Property
Taxes, 5.6
Social
Insurance
Taxes, 25.7
Individual
Taxes, 23.9
Corporate
Taxes, 9.8
Source: OECD Revenue Statistics (accessed in April 2023)
ā Additionally, compared to average OECD countries other direct tax sources are very
weak in Bangladesh, such as individual income tax and corporate income tax
It transpires that higher collection of property taxes is directly proportional to
per capita and advanced public finance management system
State and Scope of Property Taxation in Bangladesh
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