Source tax on land registration cut again
The NBR has also specified the types of land that will not be subject to any registration tax
The National Board of Revenue (NBR) has reduced the land registration source tax by Tk30,000 per katha for areas of Dhaka, Gazipur, Narayanganj and Chattogram districts which have not been developed by the government or any private party.
The NBR in this regard issued a statutory regulatory order on 30 November, which was published on Monday.
The maximum source tax per katha in all mouzas of Dohar, Nawabganj, Keraniganj, Savar and Dhamrai Upazilas of Dhaka will now be Tk20,000, instead of Tk50,000.
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For the same category of land in all the mouzas of Khulshi, Panchlaish, Pahartali, Halishahar and Kotwali of Chattogram, the maximum source tax has come down to Tk50,000 per katha.
The same rate of tax source reduction is also applicable to the identical lands in Sonargaon, Fatullah, Siddhirganj and Bandar thanas of Narayanganj, and Gazipur Sadar, Bason, Konabari, Gacha and Tongi of Gazipur.
Additionally, the NBR order has also specified the types of land that will not be subject to any registration tax.
Earlier, source tax on land registration witnessed a two-fold hike in the budget for the fiscal year 2023-24, resulting in a sharp decline in registrations.
Later, in October this year, the NBR reduced the source tax to encourage land registration.
