The government is set to backtrack from its plans to reintroduce a wealth tax and impose a first-ever advance income tax (AIT) on motorcycles and battery-run auto-rickshaws in the upcoming budget for fiscal year 2026-27, according to officials familiar with the matter.

Before embracing this seemingly attractive fiscal tool, we must ask a critical question: why did Bangladesh abolish the Wealth Tax Act of 1963 in the first place

The richer you are, the more tax you pay