Chattogram port handled a record volume of containers and cargoes in the just-concluded fiscal year riding on the rebound of Bangladesh’s international trade as global economies reopened from the coronavirus pandemic-induced economic slowdown.  

The National Board of Revenue (NBR) reached 76 per cent of its Tk 330,00 crore revenue generation target in the 11 months of 2021-22, meaning it is going to miss the full fiscal-year collection goal once again.

The Chittagong Port Authority (CPA) has recently saved a severely damaged oceangoing ship, victim of an accident mid sea, which could have caused loss of export cargoes worth Tk 800 crore and block the whole channel for future navigation.

Bangladesh has cut customs tariffs and duty on rice until October 31 this year in order to encourage imports to increase supply of the staple grain in the domestic market and cool its prices, according to a notification today (June 23, 2022).

Kuakata, home to the second largest beach in Bangladesh, is already visited by a large number of domestic and foreign tourists each year but their numbers could increase seven-fold once the Padma Multipurpose Bridge is officially opened, according to local businesspeople.

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.

Following the deadly fire at a private inland container depot earlier this month, the Chattogram Port Authority (CPA) has taken steps to tighten fire safety measures, modernise storage of dangerous cargoes and speed up delivery.

Burimari Land Port in Lalmonirhat lacks banking facility, causing suffering to people especially those who are travelling to neighbouring countries.

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.