Boro Harvest, Price: Farmers happy, yet experts worry
Anticipating an increased demand for food grain, a section of rice millers and wholesalers are exhibiting stockpiling tendencies, pushing up the price of the recently harvested Boro paddy.
22 May 2020, 18:00 PM
Firms to get until June to file VAT returns
Businesses that have failed to file value-added tax (VAT) returns of March and April owing to the countrywide shutdown are set to get a new deadline in June to complete the tasks, said a senior official of the National Board of Revenue yesterday.
21 May 2020, 18:00 PM
Coastal farmers take the brunt
Cyclone Amphan has caused 40,800 farmers of shrimp, finfish and crab losses worth Tk 217 crore in the south and southwest coastal divisions, according to preliminary estimate by the Department of Fisheries.
21 May 2020, 18:00 PM
New deadline for setting up sales registers would be in budget speech
It’s been almost three years since the revenue authority decided to set up the electronic fiscal device (EFD), a sales register, at shops to monitor the transactions to curb the scope of evasion of value-added tax, the biggest source of revenue for the state coffer.
20 May 2020, 18:00 PM
Tax-free income limit to go up to Tk 3 lakh
The government may increase the tax-free income limit for individual taxpayers after five years in fiscal 2020-21 to give relief to people in the lower-income bracket such that they can manage the economic hardship brought on by the pandemic better, said officials of the finance ministry yesterday.
18 May 2020, 18:00 PM
NBR to roll out VAT e-payment pilot from June
The National Board of Revenue plans to introduce e-payment for value-added tax on a pilot basis from June to automate the VAT system and administration, ease the hassles faced by businesses and reduce the time and the cost of compliance.
17 May 2020, 18:00 PM
Harvest all paddy now
With the severe cyclonic storm “Amphan” approaching the coast, the agricultural office has advised farmers in coastal districts to harvest all the paddy that have matured up to at least 80 percent matured.
17 May 2020, 18:00 PM
Tax noose likely to be loosened to kickstart economy
With the pandemic-induced lockdown battering livelihoods and choking cash flow across the board, the tax authority is working to give a breathing room to businesses and individual taxpayers in the low-income bracket.
16 May 2020, 18:00 PM
‘No worries’ for next six months
Once the Boro harvest is completed across the country, the nation is unlikely to face cereal shortage in the next six months.
15 May 2020, 18:00 PM
Leaden-footed NBR sitting on Tk 800cr of VAT refunds
The ongoing pandemic stands to leave a lasting legacy of bankruptcies and redundancies. Which is why, government all over the world are scrambling to prop up their businesses as much and as fast as they can.
14 May 2020, 18:00 PM
Cold storage can save farmers from ruins
Farmers’ combined efforts help the nation get a steady supply of vegetables throughout the year.
13 May 2020, 18:00 PM
VAT receipts tank on economic lull
Collection of value-added tax, the biggest source of revenue for the government, dropped 1 per cent in the first 10 months of the fiscal year to Tk 67,760 crore as the countrywide shutdown since March 26 that have brought almost all economic activities to a standstill is starting to show its effect.
11 May 2020, 18:00 PM
Health is wealth. Give it the due attention.
It is about time that the health sector takes centre stage in a national budget -- is the overarching missive of the Centre for Policy Dialogue as the finance division gets down to thrashing the budget for fiscal 2020-21.
9 May 2020, 18:00 PM
Cabinet comes to panic-struck taxpayers’ rescue
The cabinet yesterday decided to bring in changes in direct and indirect tax laws with the view to thwarting taxpayers from getting slapped with a penalty for their failure to comply with deadlines owing to the shutdown.
7 May 2020, 18:00 PM
PPEs and surgical masks now VAT-free
The National Board of Revenue (NBR) yesterday exempted value-added tax on domestic manufacturing on personal protective equipment (PPE) and surgical face mask to reduce the cost and encourage increased production for the fight against coronavirus.
6 May 2020, 18:00 PM
NBR to watch over Eid sales to check VAT dodging
The National Board of Revenue yesterday asked field offices dealing value-added taxes to monitor sales at restaurants and shops at malls and markets to ensure collection of the actual indirect tax.
5 May 2020, 18:00 PM
How should a budget during a pandemic look like?
The searing devastation of coronavirus all over the globe has called for extraordinary measures from governments worldwide. And Bangladesh is no exception.
5 May 2020, 18:00 PM
Deadline extension for tax matters on the cards
The government is likely to give relief to taxpayers from penalties for their inability to comply with deadlines during the shutdown, said finance ministry officials.
3 May 2020, 18:00 PM
Cheer for maize farmers amid the gloom
An early harvest of maize has come as a stroke of luck for farmers as they are getting better prices amid low imports as the coronavirus pandemic has fractured the supply chain, according to farmers.
2 May 2020, 18:00 PM
More than a crore with no job and hope
Perhaps Bangladesh has the highest number of people out of jobs thanks to the protracted shutdown that has taken away income opportunities for tens of thousands of people, particularly in the informal sector. Or, perhaps not.
1 May 2020, 08:24 AM