Tax system enters a new era
The new income tax law of Bangladesh came into effect yesterday, ending a nearly 40-year era of the old ordinance issued in 1984.
22 June 2023, 18:00 PM
Tax break to stay till 2036 for private power producers
The National Board of Revenue (NBR) has extended a tax holiday by 12 years on the income privately-run power plants, except for coal-fired ones, that will start generation of electricity anytime before June 30 next year.
20 June 2023, 18:00 PM
Wealth statement may not be needed
The government is likely to discard its plan to ask for wealth statements from the people who travel abroad, according to officials of the finance ministry.
18 June 2023, 02:00 AM
We want to be number one
In 1998 when Electro Mart Ltd launched its Chinese-manufactured Konka colour television at almost half the prices of international brands, it took many by surprise.
17 June 2023, 18:00 PM
BB frames rules for setting up digital banks
The Bangladesh Bank yesterday approved the guideline on digital banks, paving the way for establishing branchless banking operations, a development that is expected to accelerate cashless transactions and digital transformation.
14 June 2023, 18:00 PM
New law offers scope to strike off TIN-holders
For the first time, the National Board of Revenue (NBR) has sought to grant opportunity to individuals and companies to de-register or make their taxpayer identification number (TINs) dormant owing to no taxable income and dissolution.
14 June 2023, 02:20 AM
Tax collection rebounds in May
Tax collection by the National Board of Revenue (NBR) shot up in May, powered by buoyancy in value added tax (VAT) collection from domestic economic activities and increased income tax receipts, according to a provisional estimate.
13 June 2023, 01:00 AM
Firms enjoying tax exemption to come under greater scrutiny
Companies that enjoy tax exemptions will come under greater scrutiny in the coming days as the tax authority seeks to scan their transactions with associated enterprises in a bid to curb profit shifting and tax evasion.
11 June 2023, 01:40 AM
Govt cuts public food imports to save forex
Bangladesh plans to cut public foodgrain imports in the next fiscal year in an effort to save foreign currencies and avoid putting further pressure on the already strained forex reserves.
6 June 2023, 02:20 AM
Tax Measures: Relief for rich, burden on low-income people
Rich will get a shot in the arm from the tax measures in the new fiscal year. They may not have to pay any surcharge on their net wealth worth up to Tk 4 crore from the next fiscal year as per the proposed tax measures.
1 June 2023, 18:00 PM
Budget stuck in vicious cycle of non-implementation
The government is likely to fail to implement its national budget fully in the ongoing fiscal year owing to policymakers’ over-optimism and a lack of capacity of public agencies.
31 May 2023, 18:00 PM
Are tax policies addressing inequality?
Bangladesh’s economy has been growing at an average 6 per cent annually for the last two decades. Yet the country has witnessed a spike in income and consumption inequality.
31 May 2023, 16:07 PM
Air travel tax may surge
For the first time, domestic air travellers are likely to face a travel tax while people going abroad on airplanes are expected to pay up to 67 per cent higher taxes from next fiscal year as the government looks to increase revenue collection.
30 May 2023, 03:00 AM
NBR to engage agents to help people file tax returns
The tax authority, for the first time, is going to engage individuals to help new taxpayers file tax return in a bid to increase compliance and narrow the gap between registered taxpayers and regular return filers.
28 May 2023, 18:00 PM
Surcharge likely on second car
Owners of more than one car are likely to face an environmental protection surcharge from the upcoming fiscal year as the government plans to discourage the use of vehicles in a bid to contain carbon emissions and air pollution.
28 May 2023, 02:00 AM
Tax return filing crosses 30 lakh for first time
The number of people who filed tax returns in fiscal year 2022-23 has crossed 30 lakh for the first time.
26 May 2023, 02:30 AM
Fiscal policy barely prioritises macroeconomic stability
The fiscal policy for the ongoing fiscal year has shied away from prioritising macroeconomic stability although several key indicators have come under serious stress owing to internal and external factors, said a noted economist.
25 May 2023, 02:30 AM
Fiscal policy goals remain elusive
Fiscal policy goals set for the current fiscal year have remained elusive as private investment has stagnated, the economic growth has fallen, and inflation has shot up, said a noted economist.
24 May 2023, 03:30 AM
Public expenditure stays at lower level
Bangladesh’s public expenditure is not growing in keeping pace with the steadily expanding economy as it struggles to raise adequate revenues, thus failing to ensure full implementation of development programmes and provide expected services to its citizens.
22 May 2023, 02:00 AM
Unquestioned amnesty to black money may not continue
Holders of black money in Bangladesh are unlikely to get the opportunity to legalise their undeclared wealth without facing any questions about the sources of their income in the next fiscal year, officials said.
19 May 2023, 02:00 AM