Gifts not sweet anymore as NBR mulls taxes
If someone receives a gift, they will have to show it in their income tax return at the end of the year. At the same time, the person who gives the present will also have to inform it in their income tax return.
12 June 2024, 03:09 AM
Blow for private economic zones, hi-tech parks as tax benefits go
Currently, investors in the EZs and hi-tech parks qualify for a tax break for a decade starting from the first year of their operations. They are entitled to a full tax waiver in the first three years.
11 June 2024, 00:16 AM
Tax exemption in FY25 rises to Tk 163,000cr
Tax exemptions provided by the National Board of Revenue (NBR) are estimated to rise to Tk 163,000 crore in fiscal 2024-25 as the tax administration looks to ease the pressure on individuals and facilitate higher economic growth.
7 June 2024, 18:00 PM
Whitening Black Money: ‘Unethical, unjust and unacceptable’
Backtracking on its promise to eliminate black money, the government has once again made room to allow both individuals and companies to whiten money without facing scrutiny and by paying a 15 percent tax, a move that drew sharp criticism from economists and civil society.
6 June 2024, 18:00 PM
How far have fiscal measures promoted industrialisation?
Experts and businesspeople also highlighted the challenges linked with the current tax and incentive system.
6 June 2024, 00:42 AM
Duty benefit for washing machines, refrigerators likely to stay
For air conditioner and refrigerator manufacturing industries, the government plans to extend the existing facility to June 2026, according to the finance ministry.
5 June 2024, 00:40 AM
Inflation hits seven-month high
Inflation, fuelled by higher food prices, climbed 15 basis points to 9.89 percent in May from 9.74 percent a month earlier, figures from Bangladesh Bureau of Statistics showed yesterday.
3 June 2024, 18:00 PM
Social spending gets less priority in lopsided budgets
In FY22, the spending on public services increased to 15 percent of the total actual expenditure, nearly double the rate in FY09. Similarly, spending on the transport and communication sector surged to 12 percent from 4.7 percent in FY09.
2 June 2024, 00:03 AM
ADP implementation slows to three-year low
Government spending under the Annual Development Programme (ADP) slowed to a three-year low in the first 10 months of the current fiscal year (FY) of 2023-24, with the implementation rate dropping to 49.26 percent.
28 May 2024, 03:00 AM
Tax receipts grow at healthy clip, still NBR likely to miss target
Although a large chunk of revenue is deposited in the state coffer towards the end of a fiscal year, there might be a big gap between the revised target and the actual collection.
27 May 2024, 04:26 AM
Govt likely to announce tax rates in advance
In the coming year, the NBR may announce tax rates that will not only be applicable for the outgoing income year 2023-24 but also for the next income year 2024-25.
23 May 2024, 00:49 AM
Consumption stays low for two straight years as inflation bites
According to a provisional estimate of the Bangladesh Bureau of Statistics (BBS), consumption of goods and services grew 3.53 percent in 2023-24, up from 2.52 percent in the last fiscal year.
23 May 2024, 00:49 AM
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.
22 May 2024, 01:00 AM
NBR plans self-assessment of tax liabilities for all firms
The National Board of Revenue (NBR) is likely to introduce self-assessment for companies from 2024-25 to allow them to determine their own tax liabilities and cut reliance on taxmen.
20 May 2024, 18:30 PM
Investors in hi-tech parks, EZs may lose tax benefits
Investors in the economic zones and hi-tech parks in Bangladesh may see an end to the zero-duty benefit on imports of capital machinery, components and construction materials next fiscal year.
15 May 2024, 18:30 PM
From mobile users to metro commuters, Bangladeshis to face more tax
Mobile phone calls and metro rail commutes among other daily activities may cost more in the next fiscal year as the government looks to increase taxes to boost its revenue collections.
14 May 2024, 18:00 PM
MPs may lose duty waiver for car imports
The National Board of Revenue seeks to impose 25 percent import duty on cars for lawmakers, reversing a practice of tax exemptions that amounted to Tk 5,147 crore over the last 15 years.
13 May 2024, 18:00 PM
Industries created more jobs amid slowdown. Economists find it puzzling
However, the findings raised questions among economists, who were puzzled by the growth at a time when the economy had been facing a slowdown due to high inflation, a downtrend in export growth, and falling imports.
7 May 2024, 00:16 AM
The invisible ones
Of the over 7 crore people employed in Bangladesh, 85 percent (nearly 6 crore) are vulnerable as they work in the informal sector, which lacks basic social and legal protection, and employment benefits.
30 April 2024, 18:00 PM
IMF prescribes ending tax exemptions
It recommended the National Board of Revenue (NBR) discontinue the tax holiday for the information and communication technology industry and abolish the tax benefit for mining and petroleum extracting companies.
29 April 2024, 00:37 AM