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Taxpayers in Bangladesh will have to provide detailed information on their annual living expenses when filing income tax returns, in addition to declaring their income and assets.
The requirement is intended to help the tax authorities assess whether a taxpayer’s annual spending is consistent with their declared income.
Taxpayers are required to submit details of their lifestyle-related expenses using the prescribed IT-11GA (2023) form. If another family member bears any of these expenses, that must also be clearly stated in the remarks section of the form.
The lifestyle expenditure statement covers a wide range of annual household expenses, starting with daily family living costs. These include grocery and household expenses, annual house rent and housing maintenance costs, allowing tax authorities to compare a taxpayer’s standard of living with their declared income.
Taxpayers must also report annual expenses related to privately owned cars or motorcycles, including fuel, repairs, drivers’ salaries and other associated costs.
Utility bills for gas, electricity, water, telephone and internet services must also be disclosed.
In addition, taxpayers are required to report education expenses, including school and college tuition fees and coaching costs for their children. If such expenses appear disproportionately high compared with declared income, tax authorities may seek clarification about the source of the funds.