The government is going to make Tax Identification Number (TIN) mandatory for opening bank accounts, with exemptions for students and holders of general savings (no‑frills) accounts.
Bangladesh Bank introduced the general savings account as a simple, low‑cost option that can be opened with deposits of Tk10, Tk50, or Tk100.
However, Finance Minister Amir Khosru Mahmud Chowdhury will present the proposed Tk9.38 lakh crore budget for FY2026‑27 on Thursday afternoon. It will be his first budget as finance minister, with Speaker Hafiz Uddin Ahmad presiding over the session.
The National Board of Revenue plans to expand TIN use to identify new taxpayers. TIN will also be required for contesting union parishad chairman elections, buying or selling land, and obtaining membership in certain professional bodies.
To broaden the tax base, the finance minister may propose a 0.20 per cent advance income tax at the supply price when retailers purchase goods from producers, importers or distributors. This would bring transaction data to NBR, aiding in identifying new taxpayers.
The proposed budget sets a revenue collection target of Tk6.95 lakh crore. The remainder will be financed through domestic and foreign borrowing and support from development partners. The deficit is projected at Tk2.51 lakh crore, or about 3.6 per cent of GDP.
