Are you sending your child to an English medium school? Show your tax return proof

Bangladeshis will have to submit the proof of tax returns for a vast number of activities ranging from admitting a child to an English medium school to obtaining or maintaining an electricity connection in city corporation areas.

Finance Minister AHM Mustafa Kamal proposed the changes in the finance bill for the 2022-23 fiscal year in parliament on Thursday, as he sought to close the huge budgetary deficit by raising income tax.

Proof of tax return submission will be needed to apply for a loan exceeding Tk 500,000 from a bank or a financial institution, or to become a director or a sponsor shareholder of a company.

Citizens will need to show tax proof for admitting a child or a dependent to an English medium school or an institution providing English version of national curriculum located in city corporations, district towns or municipalities.

The proof of return submission is required for using credit cards and electricity or gas connections.

The other activities that come under the new rules are:

>> Receiving any commission, fee or other sum from money transfer through mobile banking or other electronic means or in relation to the recharge of mobile phone account.

>> Trade licences in the area of a city corporation or municipality.

>> Registration of co-operative society.

>> Registration, by a resident, of the deed of transfer, baynanama or power of attorney or selling of a land, building or an apartment within a city corporation or a municipality, a district town or cantonment board, where the deed value exceeds Tk 1 million.

>> Membership of a professional body as a doctor, dentist, lawyer, chartered accountant, cost and management accountant, engineer, architect or surveyor or any other similar profession.

>> Receiving any amount from the government under the monthly payment order, or MPO, if the sum exceeds Tk 16,000 a month.