The High Court yesterday issued contempt of court rule against the NBR chairman for not complying with its verdict in 2020, which ordered to submit a report on collection of taxes from Google, Facebook, YouTube, Yahoo, Amazon and other web-based companies before it every six months

What is a progressive tax system? Well, it means that the income tax rate climbs up as the income increases. But that still doesn't mean that the raised income tax rate will apply for the entirety of someone's income

A new Customs Act 2023 will come into effect from June 6 this year aiming to enhance fiscal discipline, accountability in import revenue collection and trade facilitation

Shafiur Rahman, regional operations manager of G-Star in Bangladesh, needs to send 6,146 pieces of denim trousers weighing 4,404 kilogrammes from a Gazipur-based garment factory to Amsterdam of the Netherlands.

The government is planning to reduce duties on imported laptops next fiscal year in order to make the devices more affordable and bring relief to freelancers and students.

Staffers of clearing and forwarding (C&F) agents stopped working at four leading inland container depots (ICDs) in the port city since the early hours today following a dispute with customs officials, which eventually led to a clash between C&F staff and staff of an ICD

The profit margin of Grameenphone Ltd was around seven times more than that of Robi Axiata Ltd in 2023.

The government’s target of earning $110 billion from exports by the fiscal year of 2026-27 would be difficult to attain because of the persisting challenges in the global and local economies, economists and businesspeople said.

Bangladesh can raise an additional $32.6 billion in revenues annually within the next four years if the electronic filing of tax returns can be ensured, said the Centre for Policy Dialogue (CPD) yesterday.

The government is currently faced with a lack of funds, evidenced by a reduction in allocations it provided from the exchequer for the upcoming Annual Development Programme (ADP), said Fahmida Khatun, executive director of the Centre for Policy Dialogue.

The government’s cash incentive against export receipts has soared over the years although many sectors could not make their mark in the global market, bringing in limited results for the government’s diversification initiative.

Power generation companies, including rental ones, may see an end to a zero-duty benefit on their import of machinery, equipment and spare parts from next fiscal year as the government moves towards generating more revenue curtailing the practice of handing out tax exemptions.

Offshore banking is increasingly becoming a key window for banks in Bangladesh to facilitate investments and international trade by attracting deposits in foreign currencies.

The tax on cigarettes in Bangladesh should be raised in the national budget for fiscal 2024-25 to boost the country’s revenue generation and minimise health risks, according to experts.

Five associations representing the ICT sector yesterday demanded that the government extend tax exemptions on businesses offering software and IT-enabled service (ITES) till 2031, saying their development was crucial to the government’s vision for a Smart Bangladesh.

Metro rail commuters are expected to be required to pay 15% VAT on their ticket fares from July 1 as the National Board of Revenue (NBR) plans to discontinue the exemption.

A provision in the Income Tax Act 2023 created the discrimination

The Supreme Court yesterday asked its High Court Division to hold further hearing on two writ petitions that challenged the NBR orders asking Grameen Kalyan to pay around Tk 600 crore as income tax.

The NBR chairman urged businesses in Rajshahi to reduce their reliance on subsidies as such a tendency contradicts the country’s aspiration to become a developed nation by 2041.

The Appellate Division of the Supreme Court yesterday scrapped a High Court verdict that declared illegal the government orders which imposed 15 percent income tax on private universities and private medical, dental and engineering colleges.