• Friday, August 01, 2014

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AMA Muhith

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...

7.3pc GDP target not achievable: CPD

7.3pc GDP target not achievable: CPD

Centre for Policy Dialogue (CPD) today said ensuring the desired investment to achieve the proposed GDP growth to 7.3 percent in the budget for 2014-’15 fiscal year is not possible. “Private sector investment should reach at least 25 percent from 21 percent. That means, around Tk 75,000 crore additional amount of investment will be...

Tk 250,506cr budget proposed

Tk 250,506cr budget proposed

Finance Minister AMA Muhith today placed before the parliament the annual budget of Tk 250,506 crore for the fiscal 2014-15. In the proposed budget, the target of gross domestic product (GDP) growth has been set at 7.3 percent. The growth target was 7.2 percent in the outgoing fiscal year but according to the preliminary estimate...

'Tk 110b lost in political unrest'

'Tk 110b lost in political unrest'

This Star photo taken on May 5, 2013 shows activists of Hefajat-e Islam clash with law enforcers in Motijheel area in the capital.

GDP growth target 7.3pc

GDP growth target 7.3pc

The government has set the growth target of gross domestic product (GDP) at 7.3 percent for the upcoming fiscal year. The target was set at 7.2 percent for the outgoing fiscal year but according to the preliminary estimate of Bangladesh Bureau of Statistics (BBS), the growth in FY 2013-14 will be 6.12 percent, the...

Tax slab raised for women, 65+ taxpayers

Tax slab raised for women, 65+ taxpayers

The finance minister has proposed to raise the income tax slab for women tax payers and those of 65 years and above by Tk 25,000 to Tk 2.75 lakh. However threshold of taxable income of individual tax payers remains the same, Tk 2.2 lakh. Placing his budget proposal before the parliament, AMA Muhith proposed to...

Agriculture gets Tk 12,390cr

Agriculture gets Tk 12,390cr

The finance minister has proposed increasing the allocation for the agricultural sector by Tk 111 crore to Tk 12,390 crore, 4.95 percent of the total budget, in the upcoming fiscal year. The ministry was originally allocated Tk 12,270 crore but received Tk 12,279 crore in the revised budget of FY 2013-14. Agriculture, rural development and...

Gold to get pricier

Gold to get pricier

Gold price may go up as the finance minister has proposed an increase in its import duty from Tk 150 to Tk 3,000 for each tola (11.664 gram). In his budget speech today, AMA Muhith also proposed to reduce the ceiling of importing gold under duty free access from 200 grams to 100 grams. Under...

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