The Financial Express

First-ever tax collection from undisclosed assets in Magura

First-ever tax collection from undisclosed assets in Magura

Tax has been collected from undisclosed assets for the first time in Magura.

In 2020, a total of 72 clients paid tax on their undisclosed assets and the tax amount is over Tk 10 million, said officials at Income Tax Office, Magura Circle.

A total of 7,761 people submitted their tax returns while some 1000 others sought time for returns submission, they said.

With this, they noted, the number of return submitters will exceed 8,700 as against 7953 in 2019.

On the tax collection on undisclosed assets, Magura District Chamber of Commerce and Industry Director, Tanvir Rahman said, “It’s a great success in a small district like Magura.”

The number of returns people last year submitted even amid the Covid-19 pandemic is also encouraging, he said.

Contacted, Deputy Commissioner at Income Tax Office under Magura Circle SM Abraham Lincon acknowledged that for the first time they have collected tax on undisclosed assets in the district.

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