State and Scope of Property Taxation in Bangladesh
Section 5: Towards Reforming Property Tax System in Bangladesh
Introducing a new, modern property tax - Inheritance Tax
The Inheritance Tax may replace the existing Gift Tax
Land and any other form of non-financial and financial wealth can be the base for
inheritance tax
ā There should be an exemption threshold
Properties up to a limit inherited by the spouse, parents or underaged children, and
donations to religious and charitable institutions may be exempted
ā A progressive tax rates may be applied with a relatively lower rate to begin with (e.g.,
2-3%)
Properties should be valued based on the market value
Tax may be imposed at the time of transfer of ownership and issuance of a succession
certificate
State and Scope of Property Taxation in Bangladesh
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