Sohel Parvez

With an aim to curb the submission of fake audited financial statements, the National Board of Revenue (NBR) has directed its field offices to verify each audit report and income tax return filed by any company through the Document Verification System (DVS).

Some 3,220 individual taxpayers have so far disclosed their undeclared properties, enabling the National Board of Revenue (NBR) to get Tk 380 crore from the amnesty it offered to holders of black money that none would be able to question the sources of income.

The National Board of Revenue (NBR) today extended the deadline for income tax return submission by one month.

With only two working days remaining for filing income tax return, taxpayers are in a hurry to gather and prepare related documents.

Bangladesh has opposed Indonesia’s move to impose a safeguard duty on apparel shipments to the country as such a measure would be inconsistent with the provisions of global agreements on safeguards, tariffs and trade.

The revenue authority has reinstated the opportunity for motorcycle assemblers to import painted completely knocked-down components of two-wheelers.

The government is likely to approve a Tk 101 crore scheme today to promote cultivation of improved varieties of grass among dairy and beef cattle farmers to boost yields and reduce their high dependence on concentrate feed.

Around Tk 200 crore is likely to be left unspent under the VAT Online Project (VOP) as some of the planned components have been made redundant for amendments brought to the VAT law, said officials.

The government has started buying rice from the international market in its effort to replenish public food stocks and increase its capacity to intervene in the market to curb a price spike of the staple food.

The country’s food reserve dropped to 8.8 lakh tonnes on Sunday, despite bumper grain production in the last fiscal year.

Rice production is likely to decline by 5,50,000 tonnes in the May-April period of 2020-21 from a year ago as a result of cyclones, heavy rains and repeated floods, said a US Department of Agriculture (USDA) statement released on Thursday.

Samorita Hospital, the lone listed healthcare provider, yesterday reported a sharp drop in profit for the last fiscal year, reflecting the sluggish business in the country’s private healthcare sector as most treatment-seekers opted to stay away from hospitals.

The National Board of Revenue has made it easier for firms in the country’s export processing zones to use import-export containers, a move that will likely expedite the process and reduce the costs for exporters.

The ongoing Covid-19 pandemic has forced the world to adjust to a new reality. Many consumers who love to spend time at restaurants and cafes or even just enjoy traditional snacks, such as samosas and fuchka from roadside vendors, have had to think otherwise.

A new rule framed by India on determining the country of origin of a product is going to hurt Bangladesh’s exports to India and undermine the efforts to narrow large trade imbalance between the two neighbours, according to two government agencies.

The government has taken an initiative to increase onion production in the country by 10 lakh tonnes within the next three years in order to attain self-sufficiency and cut import dependence.

Inflation rose to 6.44 per cent in October, the highest in at least five years, driven by a sharp increase in the price of food items, official figures showed yesterday.

The National Board of Revenue (NBR) has decided to develop an online tax return filing system with its own resources so that taxpayers can file their annual income statements easily.

Repeated floods and unfavourable weather are likely to trigger a drop in yield of Aman rice, the second-biggest crop in Bangladesh after Boro, a worrying prospect amid the rising price of the cereal.

The government plans to provide incentives to encourage community cultivation so that farmers plant their crops in a synchronised manner and ensure simultaneous harvests.