Realtors today said the cost of various raw materials, including rod and lift, will increase in the next fiscal year because of the increase in value added tax and customs tariff.

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.

According to the budget for the fiscal year 2022-23, it has been proposed that Tk 1,917 crore will be allocated for the ICT Division.

The Parliament today passed “Bangladesh Parjatan Corporation (Amendment) Bill-2022” aiming at strengthening the corporation, and expand its scope to develop the tourism industry.

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.

Parking money in banks is no longer attractive as surging inflation is eating away 2.2 per cent of savings in real terms, effectively discouraging depositors, states an analysis of the Centre for Policy Dialogue (CPD). 

Small investments in the cottage and micro sectors are playing an important role in employment generation and sustainable development of the country, said Bangladesh Bank Governor Fazle Kabir at a conference.

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.

A lack of compliance is preventing the leather sector in Bangladesh from tapping its potential and expanding its footprint in the international market despite the availability of raw materials locally.

E-commerce purchases through cards bounced back in March as the total transaction value crossed Tk 900 crore for the first time since July last year, when a number of scams were unearthed in the sector.

The government should extend adequate policy support to tannery firms in Bangladesh and introduce a new refinancing scheme to help them make a comeback from the pandemic-induced business slowdown, according to a study paper and industry people.

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 number of mobile network subscribers in Bangladesh rose for three consecutive months to reach an all-time high in April while internet usage slipped that same month.

The monthly internet usage of mobile subscribers has more than doubled ever since the coronavirus pandemic began as more people are being pushed online for work and entertainment purposes.

Top officials of the government at a workshop today said the government couldn’t provide proper policy support to encash the huge prospect of the country's tourism sector.

Commerce Minister Tipu Munshi today highlighted the investment opportunities in Bangladesh before the representatives of Nordic countries and said this is the high time to invest in the south Asian nation.