The National Board of Revenue (NBR) has exempted elevator assemblers from paying value-added tax (VAT) for three more years until June 30, 2025, to encourage the growth of domestic manufacturing capacities.

The value added tax (VAT) on beauty parlour services will not be reduced in the upcoming national budget, announced National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem yesterday.

The value-added tax (VAT) on beauty parlour services would not be reduced in the upcoming national budget, Abu Hena Md Rahmatul Munim, chairman of the National Board of Revenue (NBR), said today.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday urged the country’s revenue authority to avoid imposing any supplementary duty on locally produced goods in the next fiscal year.

The National Board of Revenue (NBR) has extended its income tax exemption facility to foreigners working at the elevated expressway being constructed under a public-private partnership.

Businesses yesterday urged the government to hold comprehensive discussions with trade bodies before finalising the newly drafted income tax law.

The National Board of Revenue (NBR) has updated its rules on temporary importation of machinery, parts and equipment such that public and private agencies can implement projects that require using foreign items.

Bangladesh Fisheries Development Corporation (BFDC) is establishing a world-class dry fish processing industry in Cox’s Bazar, said Fisheries and Livestock Minister SM Rezaul Karim yesterday.

The National Board of Revenue (NBR) has urged businesspeople to come up with specific allegations if they face any harassment at the hands of tax officials instead of making random complaints.

Top business leaders yesterday urged the government to take steps to put an end to the harassment businesses face at the hands of VAT and tax officials and extend the loan moratorium period to help them recover from the coronavirus pandemic.

The National Board of Revenue (NBR) has seen a massive surge in registrations for Taxpayer Identification Numbers (TIN) by companies, mainly due to its increased monitoring and efforts to bring all registered firms under the tax net.

The National Board of Revenue (NBR) is examining the scope for giving tax  rebate on the income of individuals who are investing in the shariah-based sukuk bond, said a senior official of the tax authority yesterday.

Mobile phone manufacturing or assembly plants in hi-tech parks and economic zones will get VAT benefits, according to a recent notification from the National Board of Revenue (NBR).

The National Board of Revenue (NBR) has formulated the country’s first-ever comprehensive policy for private inland container depots (ICDs) in order to facilitate their operations and expand Bangladesh’s foreign trade.

The Customs House Chattogram (CHC) and the VAT Intelligence have already conducted several investigations to find the destination of fake cigarette band rolls that dodged the eyes of authorities.

Only 37 per cent of 62.77 lakh registered taxpayers filed income tax returns until January 2, the last day for filing income and wealth statements by individuals, according to the National Board of Revenue (NBR).

Revenue collection grew 11 per cent year-on-year in November powered by the revival of economic activities and higher income tax payments by individuals ahead of the return submission deadline.

Today is the last day for submission of tax returns although the deadline was two days back on Friday, December 31, 2020, which being a weekend had prompted the National Board of Revenue to shift the cut-off day to a workday.

The government today extended by two years the contract keeping Abu Hena Md Rahmatul Muneem as senior secretary and chairman of the National Board of Revenue (NBR), according to a public administration ministry notification.

With many export-oriented firms facing losses for cancellation of export orders by buyers or other factors and sit with stock of raw materials, the National Board of Revenue (NBR) has relaxed rules regarding holding period of raw materials imported duty-free by firms under bonded warehouse licence.