SC rules in favour of surcharge on wealthy

The Supreme Court today ruled that collection of surcharge from the rich will not be stopped.

According to the income tax ordinance, a person with property worth more than Tk 2 crore will have to give the additional tax as surcharge to the government.

A five-member bench of the Appellate Division headed by Justice Md Abdul Wahhab Miah, performing the function of chief justice, passed the order after hearing a leave to appeal petition filed by several businessmen challenging a High Court verdict.

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The High Court in a judgment in 2015 had declared that imposition of additional tax as surcharge for the wealthy people is constitutional.

Today, the Appellate Division, however, allowed the businessmen to move an appeal before this court against the High Court verdict, Deputy Attorney General Rashed S Jahangir told The Daily Star.

The collection of surcharge from the people who have properties worth more than Tk 2 crore can be collected until the apex court hearing on the appeal, he added.