‘Govt to get Tk2000cr from land development tax’

Land Minister Saifuzzaman Chowdhury has expressed hope that starting next year, it will be possible to deposit approximately Tk 2000 crore as revenue in the government treasury through land development tax.

This amount represents an increase of almost three times or more than 200 percent compared to the previous collection from land tax prior to the implementation of the digital land development tax system.

The minister expressed the hope while addressing a program titled "State and Scope of Property Taxation in Bangladesh" organized by the Center for Policy Dialogue (CPD) at Gulshan on Wednesday (May 24).

Saifuzzaman Chowdhury said that all most 100% land development tax is being collected across the country through cashless system from April 14. A total of 325 crore taka have been collected in that one month.

To modernize the land tax system, the draft of Land Development Tax Act already has been approved. The draft will be sent to the National Parliament for legislation very soon, he added.