The Centre for Policy Dialogue or CPD says the proposed budget lacks clarity about the source of fund and expenditure. It termed the projected revenue unrealistic and pointed out that there is no clear guideline over the source of the…
Category: Budget
Budget ‘lacks steps to address macroeconomic challenges’
Unnayan Onneshan (UO), an independent multidisciplinary think-tank, has said the proposed budget for 2018-19 fiscal year lacks measures necessary to address the macroeconomic, medium term and institutional challenges the economy is facing.
Experts call budget populist
Dhaka, June 7 – Finance Minister Abul Maal Abdul Muhith apparently dipped into his party’s electoral playbook to design the national budget for 2018-19 fiscal, which experts dubbed as a populist and election-centric budget.
BNP rejects national budget; calls it election oriented
Dhaka – BNP on Thursday rejected the proposed national budget for 2018-19 fiscal year, describing it as an anti-people one.
Muhith for 5pc VAT on e-commerce
Finance Minister AMA Muhith on Thursday suggested to impose VAT on e-commerce business as the platform rising popularity day by day.
DCCI president baffled by selective reduction in corporate tax
President of Dhaka Chamber of Commerce and Industry (DCCI) AbulKasem Khan has proposed the government to reconsider slashing corporate tax in all categories at least 2.5%.
Muhith places Tk. 4,64,573 crore national budget
Finance Minister AMA Muhith on Thursday placed 2018-19 fiscal’s proposed national budget with a financial outlay of Tk. 4,64,573 crore and a 7.8 percent GDP growth projection.
Budget implication: Prices up and down
With the announcement of proposed budget for new fiscal year, a number of products are expected to see fluctuation in prices both upward and downward. Up Prices of products and services which may go up include: e-commerce, online shopping, coffee,…
Election-year budget to be placed Thursday
Dhaka, Jun 7 – A new national budget for the 2018-19 fiscal will be presented in Parliament on Thursday with a declared policy of expansionary outlays keeping the national elections likely by this year end in sight.
AL govt unable to give a welfare-oriented budget: BNP
Dhaka, June 5 – The BNP yesterday said that the present government won’t be able to give a welfare-oriented budget for the people. “Nobody can expect a welfare oriented budget from the anti-people government. There is no reason to expect…
Tk4.7 trillions big budget coming on Thursday
Finance Minister AMA Muhith is set to place a mega budget of around Tk 468,200 crore in Parliament on Thursday for the fiscal year 2018-19 amid the fast approaching national election.
Tk 180,870 crore Annual Development Plan approved
The National Economic Council (NEC) on Thursday approved the highest ever Tk 1,80,869.17 crore Annual Development Programme (ADP) for the next fiscal year (2018-2019), including the organisations’ own fund.
School bus, corporate tax cut likely in next budget: Muhith
Dhaka, May 15 – There will be an announcement to introduce school bus and corporate tax will be reduced in the upcoming budget, finance minister AMA Muhith said Wednesday.
Infrastructure to be prioritised in next Budget: Muhith
Dhaka, May 1 – Finance Minister Abul Maal Abdul Muhith has said the government will give priority on power and energy, infrastructure, education and health sectors in the upcoming national budget for fiscal 2018- 19.
US govt shuts down for second time this year
The US government has officially shut down for the second time this year because Congress failed to meet a deadline to vote on a new budget. Senators struggled with last-minute objections from Republican Rand Paul, but have now passed the…
US govt services closed as working week begins
Hundreds of thousands of federal workers will be unable to report for work on Monday, as the US Senate struggles to end a government shutdown. The shutdown began at midnight on Friday, when lawmakers failed to agree on an extension…
Some US services shutdown as Senate fails to pass bill
Recriminations have begun over the failure of the US Senate to pass a new budget and prevent the shutdown of many federal services. A bill to fund the federal government for the coming weeks did not receive the required 60…
US govt approaching federal shutdown
The US government is approaching a federal shutdown after the Senate failed to agree on a new budget. It was unclear which way the vote would go as the midnight deadline approached, with Republicans and Democrats split on key issues.…
UAE to distribute 70pc of VAT revenue to local governments
The UAE is set to distribute 70 per cent of value added tax revenues to local governments, the country’s prime minister has announced. Sheikh Mohammed Bin Rashid Al Maktoum, who is also the vice president of the UAE and ruler…
Pre-2018 leases exempt from VAT, says Saudi tax authority
Saudi Arabia’s General Authority for Zakat and Tax (GAZT) has announced that all lease contracts that were concluded before January 1 are exempt from VAT. The announcement affects assets that were delivered under leasing or rental deals last year including…
Saudi Arabia raises fuel prices
Saudi Arabia raised local gasoline prices, state news agency SPA reported. The initiative, aimed at more efficient energy use, coincides with an ambitious reform plan to boost sources of revenue and wean the world’s top crude exporter away from oil.…
Saudi Arabia, UAE introduce VAT for first time
Value Added Tax (VAT) has been introduced in Saudi Arabia and the United Arab Emirates for the first time. The 5% levy is being applied to the majority of goods and services. Gulf states have long attracted foreign workers with…
UN budget cut by $285M -US claims credit
Dhaka, Dec 27 (AP/UNB) -The United Nations’ budget is set to shrink by over $285 million next year — a 5 percent cut that the U.S. government says it negotiated.
UK ministers to launch post-Brexit economy plan
The government’s plan to boost UK industry ahead of the country leaving the EU is due to be launched later. The industrial strategy is aimed at lifting growth, which official forecasts suggest will slow due to the UK’s poor productivity…
IBBL highest taxpayer in BD banking sector
Dhaka – Fazle Kabir, Governor of Bangladesh Bank handed over a crest to Md. Abdul Hamid Miah, Managing Director and CEO of Islami Bank Bangladesh Limited for the Banks being the highest taxpayer in the banking sector in 2016-2017 tax…
Business leaders say: Assess VAT law’s impact
Dhaka – Business leaders and researchers on Sunday called for planned impact assessment of new value-added tax law by an independent and local research organisation to find its actual outcomes credible and acceptable to all. At view exchange meeting on…
Trump’s Air Force One will be bigger
Trump’s Air Force One looks similar to the one that Obama flew. But plans for a bigger one are now under way. The US president walked down the stairs of Air Force One at an airport in Morristown, New Jersey.…
electronic taxpapers ID number exceeds 3 million
The number of e-TIN holders has exceeded 30 lakh in the country, according to the statistics of the National Board of Revenue (NBR). A total of 30,50,405 people got registered with the electronic tax identification number (e-TIN) till August this…
Standing for the value of water
by Jennifer J. Sara Last week, water practitioners gathered in Stockholm for World Water Week. This is an annual meeting to discuss the world’s water issues, organized by the Stockholm International Water Institute. And if any reminder were needed as…
Suspension of VAT law to reduce revenue: PM
Dhaka, July 13 – Prime Minister Sheikh Hasina on Thursday said the suspension of the uniform 15 percent VAT will bring down the revenue collection by Tk 20,000 crore in the current fiscal year. “The postponement of the VAT law…