Tax and Customs
Amnesty for black money promotes injustice, moral hazard: CPD
The state is promoting injustice and moral hazard by allowing the holders of black money to legalise their undeclared assets through payment of 15 percent tax and without facing any questions, said the Centre for Policy Dialogue (CPD) today.
Tax from Google, FB: HC issues contempt of court rule against NBR chief
The High Court yesterday issued contempt of court rule against the NBR chairman for not complying with its verdict in 2020, which ordered to submit a report on collection of taxes from Google, Facebook, YouTube, Yahoo, Amazon and other web-based companies before it every six months
Who will actually have to pay 30 percent income tax?
What is a progressive tax system? Well, it means that the income tax rate climbs up as the income increases. But that still doesn't mean that the raised income tax rate will apply for the entirety of someone's income
New Customs Act 2023 to come into effect on June 6
A new Customs Act 2023 will come into effect from June 6 this year aiming to enhance fiscal discipline, accountability in import revenue collection and trade facilitation
Shipping cost keeps upward trend as Red Sea Crisis lingers
Shafiur Rahman, regional operations manager of G-Star in Bangladesh, needs to send 6,146 pieces of denim trousers weighing 4,404 kilogrammes from a Gazipur-based garment factory to Amsterdam of the Netherlands.
Laptops may be cheaper in FY2025
The government is planning to reduce duties on imported laptops next fiscal year in order to make the devices more affordable and bring relief to freelancers and students.
C&F staff halt work at 4 container depots
Staffers of clearing and forwarding (C&F) agents stopped working at four leading inland container depots (ICDs) in the port city since the early hours today following a dispute with customs officials, which eventually led to a clash between C&F staff and staff of an ICD
How GP makes more money than Robi
The profit margin of Grameenphone Ltd was around seven times more than that of Robi Axiata Ltd in 2023.
Achieving $110b export target by FY27 is difficult
The government’s target of earning $110 billion from exports by the fiscal year of 2026-27 would be difficult to attain because of the persisting challenges in the global and local economies, economists and businesspeople said.
Online tax returns can bring $32b extra revenues annually: CPD
Bangladesh can raise an additional $32.6 billion in revenues annually within the next four years if the electronic filing of tax returns can be ensured, said the Centre for Policy Dialogue (CPD) yesterday.
Govt brings down ADP for a lack of fund
The government is currently faced with a lack of funds, evidenced by a reduction in allocations it provided from the exchequer for the upcoming Annual Development Programme (ADP), said Fahmida Khatun, executive director of the Centre for Policy Dialogue.
Cash subsidy for exports surges. Only garment yields expected results
The government’s cash incentive against export receipts has soared over the years although many sectors could not make their mark in the global market, bringing in limited results for the government’s diversification initiative.
Power producers may lose zero-duty benefit
Power generation companies, including rental ones, may see an end to a zero-duty benefit on their import of machinery, equipment and spare parts from next fiscal year as the government moves towards generating more revenue curtailing the practice of handing out tax exemptions.
Bangladesh expands offshore banking in hunt for forex
Offshore banking is increasingly becoming a key window for banks in Bangladesh to facilitate investments and international trade by attracting deposits in foreign currencies.
Hike tax on cigarettes to boost revenue collection
The tax on cigarettes in Bangladesh should be raised in the national budget for fiscal 2024-25 to boost the country’s revenue generation and minimise health risks, according to experts.
Five ICT trade bodies demand tax exemption until 2031
Five associations representing the ICT sector yesterday demanded that the government extend tax exemptions on businesses offering software and IT-enabled service (ITES) till 2031, saying their development was crucial to the government’s vision for a Smart Bangladesh.
Metro rail commute to get costlier as NBR declines to extend VAT exemption
Metro rail commuters are expected to be required to pay 15% VAT on their ticket fares from July 1 as the National Board of Revenue (NBR) plans to discontinue the exemption.
Tax on provident funds' income: One country, dual policy
A provision in the Income Tax Act 2023 created the discrimination
