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Monday, February 28, 2011

Idea of wealth tax

The National Board of Revenue (NBR) is in a process to introduce wealth tax on people having excess land and property. 

In my view, this is indeed a good idea to control the asset price bubble in Bangladesh. This also coincides with the recent attempt of the central bank to control excessive credit (and thus over-priced asset) of banks for fixed assets such as land and apartment, as indicated in the latest Monetary Policy Statement (MPS, January 2011). If it imposes, it will ensure higher government revenue for its budget support along with income equality.    

Good attempt!

Here is the news on that. 

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