The Institute of Cost and Management Accountants of Bangladesh (ICMAB) has urged the government to introduce a provision to impose Tk50 advance tax per guest for booking a hotel, restaurant, or community center for hosting more than 100 guests for a wedding, bridal shower, birthday, wedding anniversary, or any other social event other than business purposes.
During a pre-budget meeting at the National Board of Revenue (NBR) headquarters in Agargaon, Dhaka, on Sunday, ICMAB presented the proposal with the aim of increasing revenue collection, reports Prothom Alo.
ICMAB also asked NBR to initiate the plan from the upcoming fiscal year.
Abdur Rahman Khan, a member of the ICMAB delegation and former president of the body, said, "Many individuals in the country spend significant amounts of money, even if they are not currently covered by taxes. Essentially, this proposal aims to include them in the tax system to some extent.”
In case of someone ending up paying double taxes, adjustments can be made later, he said, adding that the proposal has been crafted with consideration for the numerous social events that take place in the country.
