Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Sunday, April 22, 2018 07:04:58 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

DSCC to update holding tax rates

A move to multiply earning, remove payment discrimination

By
12th-Jan-2017       
Comments
Share your thought
Post a comment »
Read all () »

Mohammed Badrul Ahsan :
The Dhaka South City Corporation (DSCC) is set to multiply its earnings from holding tax through updating its decades-old holding tax rates, sources said.
The move came also to remove existing discrimination in their payment system, they added.
Holding tax is the major source of earning for the city corporation from where the DSCC earned Tk 1.75 billion out of the total revenue earning Tk 3.02 billion in the financial year (FY) 2015-2016.
The DSCC sources said the revenue-starved local government body can raise its earnings from the holding tax (holding, cleaning and lighting) sector by more than two times.
Keeping the assessment in consideration, the DSCC has set a target of over Tk 5.0 billion from the area in FY '17 against projection of Tk 2.85 billion in FY'16.     
However, to this effect the DSCC has initially started assessing the dwellers' holding tax payments in its Zone-1 and Zone-2 from October 2. It will later be extended to other zones in phases, they said.
When contacted, DSCC Mayor Mohammad Sayeed Khokon said they took the move to bring uniformity in holding tax rates as owners of similar type of property are paying taxes at different rates.
"We'll not raise holding tax rates…we will just bring uniformity and fairness in the existing tax structure, which has not been reassessed during the last 27 years and we want cooperation of our conscious citizens," he added.
DSCC sources said it did not reassess tax rates of a large number of holdings since 1989, creating unfair tax structures for the residents.
Seeking anonymity, a senior DSCC official said under the existing rate, property owners in the same area are now paying different rates of holding tax.
Such rates for the establishments that were built before 1989 were not reassessed over the years, giving rise to discrimination, he said.      
According to the rule 21 of The Municipal Corporations (Taxation) Rules-1986, "a new valuation list shall, unless otherwise ordered by the government, be prepared in the manner specified in the rules once in every five years."
The discriminatory tax structure has also created a serious problem to the revenue-earning process as property owners under the DSCC often complain or feel discouraged in clearing taxes, citing discriminatory rates of same-value property, he said.
The official said some 80,000 holdings in Zone-1 (7, 16, 17, 18, 19, 20, 21) and Zone-2 (1, 2, 3, 4, 5, 6, 8, 9, 10, 11, 12, 13) will be reassessed as part of the move.
Meanwhile, a building or land owner has to pay tax on the revenue earned from the property. It means the owner has to pay a specific rate of tax from the rent or from the revenue earned commercially using the property.
Holding tax is based on annual assessment of a building, complex and flat.
According to section 20 (3) of the 1986 tax law, the tax is fixed after deducting rent of two months from the total income as maintenance costs and also deducting the annual interest of any loan taken from Bangladesh House Building Corporation, any listed bank or from any other authorised financial organisation under the 'Registered Mortgage Deed', or after deducting 40 per cent of the total rent if the owner is staying in any part of the property.
Land owners were paying 12 per cent tax under this assessment till now.
In 2000, the owners had to pay 7 per cent tax only on building. In 2009, it was made 12 per cent after adding 2 per cent for waste management and 3 per cent for the street lights, according to the DSCC sources.

Tariff
Add Rate

News Archive

Inside The New Nation

Football »

Chanathip Songkrasin (left) of Consadole Sapporo and Kazuki Nagasawa (right) of Urawa Reds fight for the ball during their J1 League match at Saitama Stadium in Saitama, north of Tokyo on Saturday.


Sports »

Kvitova, Pliskova give Czechs 2-0 lead over Germany


AFP, Stuttgart :Victories by Petra Kvitova and Karolina Pliskova gave the Czech Republic a commanding 2-0 lead over hosts Germany in their Fed Cup semi-final on Saturday. Two-time Wimbledon champion Kvitova needed just over an hour for an emphatic 6-3, 6-2 win over Julia Goerges at the Porsche Arena in ...

Entertainment »

Salman, Katrina all set to leave for tour to USA in June


Salman Khan is one of Bollywood's biggest superstars and over the years he has made a brand out of himself. Everything from his dance moves, clothes, accessories to his attitude and body language is a rage among his fans. Salman was recently proven guilty in the 1998 Blackbuck poaching case. ...

Entertainment »

Shahid to shoot for Batti Gul Meter Chalu


Shree Narayan Singh's Batti Gul Meter Chalu is a social drama that depicts the contradiction between long hours of power cuts and the ironically high electricity bills that dig a hole in the common man's pocket. It narrates the story of a man's fight against power distribution companies. Shahid Kapoor ...

City »

BNP Secretary General Mirza Fakhrul Islam Alamgir speaking at a press conference at the party central office in the city's Nayapalton on Saturday with call to admit party Chairperson Begum Khaleda Zia in the city's United Hospital for her proper treatment.


Editorial »

Enforce counter-trafficking law


NONE of over 3,500 cases filed under the counter-trafficking law across the country has disposed of since the formulation of the act. It has left the victims and their families in utter frustration. They are also deprived of getting remedy and compensations. Whereas the perpetrators are threatening them to withdraw ...

International »

Thousands of students to walkout across US in call for gun reform


Reuters, Colorado : Thousands of students again walked out of classes across the United States on Friday, marking the 19th anniversary of the massacre at Columbine High School with a show of unity aimed at pressuring politicians to enact tighter gun restrictions.Students from more than 2,600 schools and institutions planned to ...

Editorial »

No law can restrict freedom of speech


EDITORS' COUNCIL, an organisation of editors of the country's national dailies, has recently expressed grave concern over Section 21, 25, 28, 31, 32, and 43 of the Proposed Digital Security Act. It said the sections would greatly obstruct freedom of speech and independent journalism. However, responding to the concern the ...

Football »

Manchester United`s Paul Pogba (second right) and Bournemouth's Steve Cook battle for the ball, during the English Premier League soccer match between Bournemouth and Manchester United, at the Vitality Stadium in Bournemouth, England on Wednesday.


.

City »

General Secretary of Bangladesh Sarak Paribahan Sramik Federation Osman Ali, among others, at a rally of labourers in Swadhinata auditorium of DRU on Friday demanding implementation of five thousand CNG registration allocated for drivers.


.

Entertainment »

Anny pairs up with Zahid Hasan for first time


Entertainment Report :Popular actress and model of present time Anny Khan for the first time paired up with National Film Award winner actor and director Zahid Hasan in a drama serial.Zahid Hasan is acting in the title role in the serial. Viewers will watch a new role Zara in the ...

International »

Koreas set up 1st hotline between leaders ahead of summit


AP, Seoul :North and South Korea installed the first-ever telephone hotline between their leaders Friday as they prepare for a rare summit next week aimed at resolving the nuclear standoff with Pyongyang.South Korea's presidential office said a successful test call was conducted on the hotline between Seoul's presidential Blue House ...

Editorial »

Lawlessness in the transport sector


RAJIB Hossain, a third-year student of Titumir College, whom right hand was pulled out being stuck between two speeding buses in the city, drifted off to death on Tuesday after two weeks in coma. The life of the ill-fated youth ended quite tragically at 21 leaving his two teenage brothers ...

Football »

Real Madrid's Cristiano Ronaldo gestures during a Spanish La Liga soccer match between Real Madrid and Athletic Bilbao at the Santiago Bernabeu stadium in Madrid on Wednesday.


Entertainment »

Sudden rendezvous of Afsana Mimi, Zahid Hasan


Entertainment Report :Hothat Dekha (sudden rendezvous) is not a title. It was a sudden rendezvous of two friends, two popular actors and directors - Afsana Mimi and Zahid Hasan.  Recently they were taking part in shooting of two separate plays in the city’s Uttara area. Zahid Hasan was engaged with ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news