DHAKA: Finance Minister AHM Mustafa Kamal said tax rate will not be raised on any products in the next five years.

“This term’s budget will be more than Taka five lakh crore,” he said at the 40th meeting of the Consultant Committee of the National Board of Revenue (NBR) at Bangabandhu International Conference Center on Tuesday (April 30).

AHM Mustafa Kamal said, “I can say that tax rate will not be increased in any respect in the next five years. Rather, tax rate will be cut down in all respects in the years to come. But tax sectors will increase. Dual taxes will be avoided. This year's income tax will be harassment-free.”

Regarding 2019-20 budget, the minister said so much reform is to be brought about in this budget.

He also said, “If reformed, many said that the finance minister will forgive loan defaulters. I will neither forgive nor will I send them to prison. Various sectors, including banking one, will be reformed in this budget.”

“I will announce such a budget that caters to the need of all the people, having its foundation for 2041,” AHM Mustafa Kamal also said.

BDST:  2117 HRS, APRIL 30, 2019

AH