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17 October 2021

Business Insider Bangladesh

Auction buyers have to pay 10% TDS

BI Report || BusinessInsider

Published: 15:50, 4 June 2021  
Auction buyers have to pay 10% TDS

File photo of the National Board of Revenue office in the capital

The auction winners who will buy products, assets, liabilities or take a lease from an auction will have to pay 10% advance source tax or tax deducted at source (TDS).

Currently, they are paying 5% TDS.

The proposed national budget for FY22 increased the tax.

Finance Minister AHM Mustafa Kamal on Thursday placed the budget before the parliament.

However, the proposed budget gives a couple of tax facilities for different sectors this year to give taxpayers extra relief amid the Covid-19 situation.

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