The National Board of Revenue (NBR) has broadened and relaxed the rules for bringing new taxpayers under the tax net by assessing their incomes on the spot.

The production cost of steel makers in Bangladesh is going to increase as the revenue authority seeks to hike the value-added tax on rod and other steel products by up to 20 per cent, two leading producers said yesterday.

The government has proposed a 2.5 percentage point cut in corporate tax rates for the listed companies in the national budget unveiled for the next fiscal year in a bid to develop the stock market and attract investments.

The National Board of Revenue (NBR) has extended for another year a value added tax (VAT) reduction for local liquefied petroleum gas (LPG) cylinder manufacturers, who believe it would help keep fuel prices low against rising demand.

The government is likely to hike value-added tax (VAT) on broadband internet and impose a 5 per cent VAT on handsets manufacturing in the upcoming budget, which will increase handset and internet prices from next fiscal year. 

The Chattogram Custom House auctioned off 30,000 tonnes of Hydrogen Peroxide today (June 6, 2022) in an open tender, which was lying at Chittagong Port for four years.

Exporters of all sectors will likely get corporate tax rates equal to that of garment exporters from the next fiscal year, said officials of the finance ministry, which plans to encourage the diversification of Bangladesh’s export basket by affording this benefit.

On April 5, the revenue authorities held a draw of the lottery of sales receipts issued by the stores using electronic fiscal devices (EFDs).

The National Board of Revenue should accelerate the use of electronic fiscal devices (EFDs) and ramp up monitoring to eliminate non-compliance with a view to raising more value-added taxes using technologies, said former top taxmen and economists.

The National Board of Revenue (NBR) has been failing to achieve tax collection targets since the fiscal year of 2012-13 because of lofty goals set by the government and the absence of major reforms.

A probe report on the breach of NBR server that saw the release of 11 import consignments last year has raised more questions than it answered.

Tax Commissioner Md Iqbal Hossain and Additional Tax Commissioner Mohammad Mahmuduzzaman have been elected president and secretary general respectively of BCS Taxation Association for a two-year term.

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.

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 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.