NBR Considers Wealth Tax and Inheritance Tax to Boost Revenue

PNN Staff Report

The National Board of Revenue (NBR) is considering a new tax structure to increase the country’s revenue. This includes imposing a “wealth tax” on the wealthy instead of the existing surcharge and implementing an “inheritance tax” on property received through succession.

At a pre-budget meeting for the 2026–27 fiscal year at the NBR conference hall in Agargaon, NBR Chairman Md. Abdur Rahman Khan shared these plans.

He said that replacing the current surcharge system with a separate wealth tax on the rich is being seriously considered. Such a tax would allow the collection of additional revenue from high-net-worth individuals beyond income tax.

He also mentioned that significant wealth is being transferred from one generation to another through inheritance. Following internationally accepted models, Bangladesh is considering imposing an inheritance tax on properties exceeding a certain value, especially in urban areas.

If this tax is applied before mutation processes, revenue collection would be simplified. The Chairman emphasized good governance in revenue administration, saying that reducing corruption and loopholes would significantly increase revenue. He also highlighted the importance of encouraging competent and honest officials and increasing transparency in administrative systems.

The audit process is being modernized and made transparent, with manual systems being gradually phased out. A risk-based audit framework has been introduced in VAT, and next fiscal year, 100% online income tax return submission is planned.

If implemented, these initiatives are expected to bring major changes to the country’s revenue structure.