Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 1051 Thu. May 17, 2007  
   
Business


Govt okays deal with Switzerland to avoid double taxation


The caretaker government approved a ratified agreement between Bangladesh and Switzerland on avoidance of double taxation to further strengthen the existing economic relations between the two countries.

An unscheduled meeting of the council of advisers with Chief Adviser Dr Fakhruddin Ahmed in the chair yesterday approved a proposal on the agreement placed by the Internal Resources Division.

"The deal will go in favour of Bangladesh's interest," according to an official.

The meeting also approved draft of the Public Procurement (amendment) Ordinance 2007, incorporating option for negotiation during signing agreement between government and international organisations, development partners and foreign countries on loan document, donation, goods and services.

The advisory council also approved a proposal placed by commerce ministry for refixing or increasing various fees of joint stock companies and firms under schedule 2(A) of the Companies (Amendment) Act 2005, according to chief adviser's Press Secretary Syed Fahim Munaim.

Earlier in 1994, the fees were fixed, which are now comparatively less or very small.

With the rise in the fees, government's annual revenue will increase by Tk26 crore.

The meeting also discussed prices of essential commodities and means of stabilising market prices.

Expansion of BDR outlet markets and increase in the number of wholesale markets apart from Karwan Bazar in the capital were discussed in this context.