NBR said it has slashed VAT on ready-made clothes, restaurants, sweets, non-AC hotels and motor workshops and mostly restored to the previous levels

The National Board of Revenue is set to revise down the value-added tax (VAT) and supplementary duty (SD) on a number of items including mobile phone usage, internet services, medicine, clothes and restaurants as public outcry became deafening.

These changes in the middle of the fiscal year are unexpected and unwanted as the economy faces significant challenges.

A notification was issued today to this effect

A government taskforce will investigate the country’s 10 major business groups’ alleged money laundering and other misdeeds.

The development came four days after the CIC blocked withdrawals and transfers from the accounts

On May 20, 2024, Chattogram Custom House Deputy Commissioner Mohammad Zakaria was in Kolkata, India, where he had gone for treatment a week earlier.

He speaks at a discussion organised by the Finance Division in collaboration with the World Bank

Stocks soared yesterday as investors cheered the substantial cut in capital gains tax by the National Board of Revenue (NBR) to encourage big local and foreign investors.

Prior to the rate cut, taxpayers had to pay 30 percent tax on the capital gains over Tk 50 lakh if the gains are realised in five years at any time of a year.

The National Board of Revenue (NBR) yesterday granted a 10-year tax benefit for investments to establish renewable energy-based power facilities with the objective to facilitate generation of clean energy.

NBR also exempted VAT at production and trading of the highly import-based edible oil

The committee has five members

The NBR expects that sugar prices will decrease in proportion to the duty reduction, and it hopes this measure will also discourage sugar smuggling.

In a bid to ensure tax compliance, the government has blocked the transfer of shares of seven corporate giants that thrived under the Awami League government.

The NBR instructed the RJSC to immediately block any sales or transfers of shares, whether through donations or otherwise

The National Board of Revenue (NBR) will open its online tax return submission portal tomorrow to facilitate digital income tax, wealth statement and other tax submissions by individual taxpayers for fiscal year 2024-25

The National Board of Revenue (NBR) has fallen short of its revenue collection target for the 12th consecutive year, with experts opining that the existing framework for tax collection is inadequate.

Unfortunately, all the mechanisms meant to address corruption seem to have been weakened, if not completely destroyed, one after another in recent decades.

The town is abuzz about how the astronomical price of a goat led to the opening of a gigantic can of worms