An Indian multinational company which took part in the construction of Dhaka’s first elevated metro rail is facing a penalty of Tk 7.03 crore for delaying the filing of income tax return for fiscal year 2019-20.

The visiting mission from the International Monetary Fund was not fully convinced with the plans laid out by the National Board of Revenue on accelerating the tax collection to raise the tax-to GDP ratio by 0.5 percentage points in the current fiscal year. 

Best Holdings is the owning entity of Le Méridien Dhaka

A report by the Tax Justice Network (TJN) reveals

The directive came from an Ecnec meeting today

The National Board of Revenue (NBR) has framed rules regarding tax deducted at source (TDS) in line with the new income tax law that came into effect last month.

At least 5.4 million taxpayers of the country have not submitted their income tax returns within the stipulated time frame for the current fiscal year 2022-23, Finance Minister AHM Mustafa Kamal told parliament today

The proposed income tax law has sought to make it mandatory for taxpayers in specific cases to add the statement of their living expenses with their tax returns.

The income tax law explains the issue

Those who sought time extension will only get the opportunity

The Centre for Policy Dialogue (CPD) today urged the National Board of Revenue (NBR) to bring non-resident tech giants such as Facebook, Google, and Netflix under tax.

Additional charges will also be applicable, says NBR

The foresightedness of Rokia Afzal Rahman was unparallel

The National Board of Revenue issues a notification on March 23

The Centre for Policy Dialogue (CPD) today urged the government to reduce the duties and taxes, both at import and domestic levels, on essential commodities in order to provide some respite to consumers with low and limited income amid higher inflation.

The Bangladesh Economic Association (BEA) today urged the budget planners to employ all possible ways to reduce the inequality related to wealth, income, health, and education.

The Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) today urged the government to cut the tax deducted at source and continue the existing corporate tax rate for another five years.

Apparel exporters today sought a host of tax benefits, including bringing down the tax deducted at source and withdrawing income tax levied on cash incentives in the upcoming fiscal year, in a bid to help the garment industry deal with the current economic stress.

The tax forms need to simplified too, says Abu Hena Md Rahmatul Muneem

The tax administrator has seen a 239 per cent or three times year-on-year rise in the number of online tax return submissions in 2022-23.