The Finance Bill-2024 has been presented before the National Parliament.
Finance Minister Abul Hassan Mahmood Ali started presenting the bill in the budget session of Parliament at 4pm on Saturday (29 June).
The revised proposed national budget for the fiscal year 2024-25 will be passed on Sunday (30 June). The new budget will come into effect from Monday (1 July).
According to sources in the Parliament Secretariat, a general discussion was held on about the fiscal year 2024-25 budget, the demand for budgetary approval and the specification of the liable expenditure.
Finance Minister Abul Hassan Mahmood Ali will propose to implement the government's financial proposals and accept the Finance Bill-2024, which has amended some laws, for immediate consideration.
The finance minister will then propose to pass the bill to implement the government's financial proposals and amend some laws.
Among the proposals raised in the proposed budget for the upcoming year, the most discussed issue is allowing turning black money into white by paying a 15% tax.
Besides, in the budget proposal, the finance minister said to impose a capital gain tax on capital market investors. Although there are various objections from the investors, it is not being taken into account.
In the revised budget, the decision to impose a tax on profits up to Tk50 lakh may continue as before.
According to the sources, there are going to be some minor changes related to income tax and customs in the new Finance Bill.
The finance minister said steps are being taken to encourage all citizens to pay taxes.
