Provident fund tax: a backward step
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2023-10-03
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The Income Tax Act of 2023 in Bangladesh has stirred unease, mainly in the private sector, by mandating a 27.5 per cent tax on employee welfare funds like
provident and gratuity funds. While this might seem like a simple way for the government to increase revenue, the actual implications extend much further. The change not only affects the financial planning of retirees but also impacts long-term employment incentives.
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New Age