• Wednesday, November 26, 2014

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AMA Muhith

MCCI honours business icons

MCCI honours business icons

The Metropolitan Chamber of Commerce and Industry (MCCI) yesterday gave Centenary Awards to 20 businesses and individuals for their outstanding performances and contribution to society. As the chief guest, Finance Minister AMA Muhith handed over the awards on the occasion of the chamber's 110th founding anniversary, at Bangabandhu International Conference Centre in Dhaka. As the...

  

Govt to offer incentives to China, Japan investors

Govt to offer incentives to China, Japan investors

Amid growing interests from Japanese and Chinese entrepreneurs to invest in Bangladesh, the government has prepared the draft of an incentive package for attracting foreign investment in special economic zones. A high-level meeting with Finance Minister AMA Muhith in the chair discussed the draft last week and it will be finalised after Prime Minister...

CROSS TALK

The finance minister as a lightning bolt

THE finance minister apparently ate the humble pie two Thursdays ago in a tone that ranged between regret and recrimination. He admitted it was wrong to put political people on the boards, which led to poor performance of the state-owned banks. The minister, however, said nothing with regard to what he has done about it or how he was going to recover the plundered cash or catch the culprits who made off with the money. In all practicality, he...

New pay scale from July 1: Muhith

New pay scale from July 1: Muhith

The new pay scale for the government employees is likely to be implemented from July 1 next year, Finance Minister AMA Muhith said today. “Definitely, the new pay scale will be made effective from the next fiscal year… However, if its implementation is delayed it will be given effect from July 1 (2015),” Muhith...

NBR felicitates top taxpayers

NBR felicitates top taxpayers

The National Board of Revenue yesterday honoured 402 top and long-term taxpayers amid calls for a harassment-free atmosphere and accountability of taxmen to boost the tax receipts. “We want to pay tax but we need the right environment for that,” Kazi Akram Uddin Ahmed, president of the Federation of Bangladesh Chambers of Commerce and...

  

BB won't oversee GB directors' polls: Muhith

BB won't oversee GB directors' polls: Muhith

The government is planning to bring changes in the existing rules to scrap Bangladesh Bank’s authority to oversee the election of nine borrower-directors of Grameen Bank, Finance Minister AMA Muhith said today. A new body will be formed to oversee the electoral process, Muhith said while talking to reporters at his Secretariat office in...

Threat still exists in economy

Threat still exists in economy

A threat still exists in the economy although peace was restored in the country eight months ago through the January 5 national election, Finance Minister AMA Muhith said yesterday. “The place of peace is a very important factor for development. We suffered a lot last year for the absence of peace. Fortunately, people rejected...

Money-whitening scope to continue

Money-whitening scope to continue

In a U-turn, Finance Minister AMA Muhith today said the upcoming budget will allow legalising black money in two areas including real estate investment. He said in parliament legalisation of undisclosed income on payment of 10 percent penalty on top of normal tax will also be available in the fiscal 2014-15 budget. However, the opportunity...

Penalty for polluters

At long last the government means to implement the 'Polluters Pay Principle' by imposing one percent environmental surcharge on polluting industries and providing tax holiday for non-polluting brickfields. For a long time green activists have been demanding an imposition of a green tax on polluters to bring down the levels of pollution in rivers. Finance Minister AMA Muhith, in his budget speech yesterday, proposed imposing one percent 'Environment Protection Surcharge' or 'Green Tax' on ad-valorem basis on all kinds of products...

Landlords guilty if tax dodged

The landlords who charge more than Tk 25,000 as rent for a single living unit will have to receive the rent through banks from the next fiscal year. This is what Finance Minister AMA Muhith proposed in the budget for the 2014-15 fiscal year, saying, "It is essential to bring transparency in the process of house-rent collection in order to widen tax net and deter tax evasion". According to the new provision, tenants will pay rents in cheques payable to a...

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