Dhaka, June 14 – The leaders of Awami League-led 14-party alliance have given mixed reaction over the proposed budget for 2019-20 fiscal year. Some alliance leaders said the proposed budget will not fulfill the expectation of the mass people of…
Category: Tax
Budget to benefit a section, people will reject it: BNP
Dhaka, June 14 – The main opposition BNP has termed the proposed national budget for fiscal 2019-20 highly ambitious and claimed the people would reject it. “The people would not accept the budget as it would create pressure on them…
Budget not reflects ruling party’s polls manifesto: CPD
Dhaka, June 14 – The proposed national budget has not reflected the pledges of the ruling party Awami League’s election manifesto as it would go in favour of the people who are beneficiary of economic misrule instead of the larger…
PM Hasina seeks help for implementing ‘pro-people budget’
Dhaka, June 14 – Terming the budget “pro-people” Prime Minister Sheikh Hasina yesterday said the Tk 5,23,190 crore outlay for FY2019-20 is pretty self-explanatory and there is no scope of confusion. “We prepared the budget for our common people, not…
Taxation proposals in Bangladesh budget for 2019-20
Income Tax, Value Added Tax and Import-Export Duty NBR officials work relentlessly to achieve the revenue target set by the government every year. NBR tax revenue is basically collected from Income Tax, Value Added Tax (VAT) and Import & Export…
Highlights of budget for 2019-20
Dhaka, June 13 – Following are the highlights of the proposed budget for fiscal year 2019-20 • Tk 5.2tr budget with 8.2% growth target• Generate fresh employment for 3cr people by 2030• Increase taxpayers number to 1.0cr from 21-22 lakh•…
G20 urged to speed up digital tax on tech giants
FUKUOKA, Japan, June 8, 2019 (BSS/AFP) – Top G20 finance officials agreed Saturday there was an urgent need to find a global system to tax internet giants like Google and Facebook but clashed on the best way to do it.…
G-20 finance chiefs mull ‘fair tax’ reforms to boost growth
Fukuoka, Jun 8 (AP/UNB) — Finance chiefs of the Group of 20 major economies meeting in the Japanese city of Fukuoka debated Saturday over how to revise tax systems to ensure big companies pay their fair share and support economies…
Regulatory duty increased to discourage rice import
Dhaka, May 22 (UNB) –The government has increased the regulatory duty on rice import to 25 percent from the existing 3 percent, aiming to discourage its import following a drastic fall in rice prices in the country. The National Board…
A carbon dividend is better than a carbon tax
By Mark Paul and Anthony Underwood Sarasota – Climate change is the world’s most urgent problem, and in the United States, the left, at least, is taking it seriously. Earlier this year, Representative Alexandria Ocasio-Cortez of New York and Senator…
BD govt sets higher revenue collection goal for next FY
Dhaka, May 10 – The revenue collection target for the 2019-20 fiscal has been set at Tk 3.97 lakh crore to reduce dependency on foreign aid and grants. The National Board of Revenue (NBR) has been tasked with collecting Tk…
BD businesses FBCCI wants tax-free income up at Tk 350000
Dhaka, Apr 30 (UNB) – The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) on Tuesday proposed raising the tax-free income tax celling for individual taxpayers to Tk 3.5 lakh from existing Tk 2.5 lakh considering the increased living…
How to tax a multinational
For too long, multinational corporations—and digital firms in particular—have used existing rules to avoid paying taxes in countries where they do much of their business. For some time now, multinational companies (MNCs) have been gaming the rules of the global…
No compromise over tobacco, says taxation chief
Dhaka, Apr 7 (UNB) – Chairman of the National Board of Revenue (NBR) Md Mosharraf Hossain Bhuiyan on Sunday said they will make no compromise over the issue of tobacco as Prime Minister Sheikh Hasina expressed her commitment to make…
Ex-Customs Commissioner sent to jail on illegal property charge
Dhaka, April 01 – A Dhaka court on Monday sent a former Customs Commissioner and former member of Customs, Excise and VAT Appellate Tribunal to the jail in a graft case filed for acquiring illegal property. The Metropolitan Sessions Judge…
Life tax exemption for women with 4 or more kids in Hungary
Hungary, Feb 11 (AP/UNB) — Hungary’s government is greatly increasing financial aid and subsidies for families with several children, the country’s prime minister said Sunday. The measures announced by Viktor Orban during his “state of the nation” speech are meant…
Task force to identify, bring foreign workers under tax net
The National Board of Revenue (NBR)is going to form a taskforce to identify the foreign nationals working in Bangladesh to bring them under the tax net. There will be representatives of Bangladesh Investment Development Authority (Bida), National Security Intelligence (NSI)…
VAT withdrawn against SIM replacement
The government on Monday withdrew all value added taxes and supplementary duties imposed against every SIM card replacement through the Mobile Number Portability (MNP) service.
Disastrous yellow vest protests in France: Macron calls crisis meeting
The “yellow vest” protests have been “a catastrophe” for the French economy, the finance minister says. France has seen four consecutive weekends of demonstrations against fuel tax rises, high living costs and other issues.
Rioting engulfs Paris as anger grows over high French taxes
Paris, Dec 9 (AP/UNB) — The rumble of armoured police trucks and the hiss of tear gas filled central Paris on Saturday, as French riot police fought to contain thousands of yellow-vested protesters venting their anger against the government in…
NBR to extend tax return submission deadline up to Dec 2
The National Board of Revenue (NBR) has decided to extend the deadline by two more days until December 2 for filing income tax returns for individual taxpayers.
Income Tax Fair begins across Bangladesh
The weeklong ‘Income Tax Fair’ was kicked off in Dhaka and other divisional cities across the country today (Tuesday) for the ninth consecutive year, aiming to provide better services to the taxpayers and include more taxpayers in the tax net.
Incompetence and inability to run WTO secretariat alleged
DG did not read the report issued by WTO-IMF-WB at Bali Geneva, 17 Oct (D. Ravi Kanth) – The WTO Director-General Roberto Azevedo said on Tuesday that he has not had the opportunity to read the report on “Reinvigorating Trade…
Bangladesh seeks larger duty-free market access to US
Bangladesh has requested the United States to expand market access for Bangladeshi goods to the American market and increase duty-free market facilities in the light of WTO’s Bali Ministerial decisions.
Trade Wars: Is there an off-ramp?
By Askiah Adam That an economic world war has already started is beyond dispute. Whether it is Washington or Trump who has lost it is immaterial but between the sanctions imposed on several countries and prohibitive tariffs inflicted on friends…
Rights body for Mobile call rate of 10 poisha a minute
Dhaka, Aug 18 – Citizens’ Rights Movement (CRM), an NGO working for people’s rights, on Saturday demanded fixation of mobile phone call rate at 10 paisha per minute with a per second pulse.
In 6 days 113, 423 vehicles fined Tk 37mn
Dhaka, Aug 10 – Police has taken legal action against 1,13,423 vehicles and collected around Tk 3.78 crore as fines in separate drives against traffic rule violators across the country in last six days till Friday.
More UAE consumers struggle to make ends meet in Q2
A higher percentage of UAE consumers reported struggling to make end meets following the introduction of value added tax in the second quarter of the year compared to the first, according to a new survey. Comparison site Yallacompare said its…
US mulls 25% tariff on $200bn of Chinese goods, say reports
The US is considering 25% tariffs on $200bn (£152bn) of Chinese goods, much higher than the 10% it previously indicated it might impose, reports say.
Trade war – Developing countries should respond
By Martin Kh or Penang, Malaysia, Jul 24 2018 (IPS) – The escalating trade war initiated by United States President Donald Trump is a major threat to world trade and the global economy. The developing countries will be among those…