Bangladesh National Budget 2019-20
Tk 5,23,190cr budget passed in JS
Parliament passes the Tk 5,23,190 crore national budget for 2019-20 fiscal themed as “Bangladesh on a Pathway to Prosperity: Time is Ours, Time for Bangladesh.”
NBR to lose Tk 400cr for pampering tobacco companies
The National Board of Revenue’s move to change the VAT and Supplementary Duty Act 2012 to offer input tax credit to cigarette
New VAT system to bring in Tk 11,000cr more
The National Board of Revenue expects to collect about Tk 11,000 crore more for imposition of VAT on various goods and services and increasing rates on many others, said its officials.
Textile millers seek exemption of 5% VAT on sale of local yarn
Textile millers demand an exemption of 5 per cent value added tax (VAT) on sale of local yarn to make the domestic yarn market more competitive.
Budget Discussion: Opposition slams govt over paddy price
Opposition lawmakers yesterday came down heavily on the government for its failure to ensure fair price of paddy and check money laundering, soaring loan defaults and black money.
New VAT law to hurt consumers: Analysts
The government’s move to implement the new VAT law without rebate facility for reduced rates will hurt consumers because of price spike of many goods and services, analysts say.
Budget anti-people: Gonoforum
Gonoforum rejects the proposed national budget for 2019-20 fiscal terming it as frustrating and anti-people.
Manage deficit financing from other sources rather than banking channel
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urges the government to manage fund from other sources rather than banking channel to finance the deficit financing in 2019-20 fiscal.
The affluent to benefit more
The budgetary measures for fiscal 2019-20 will favour the beneficiaries of “economic misrule” and hurt the middle and lower mid-income groups, the Centre for Policy Dialogue said yesterday.
TIB slams amnesty for black money
Transparency International Bangladesh (TIB) yesterday strongly condemned the proposed amnesty for black money in the budget for fiscal 2019-20 and termed it “unconstitutional, immoral and discriminatory”.
Pay more for digital delight
At a time when the government should be encouraging virtual businesses, Finance Minister AHM Mustafa Kamal has proposed 7.5 percent value-added tax on them in his budget for fiscal 2019-20, making their services dearer.
Make new VAT law business-friendly
Leading business associations yesterday urged the government to ensure easy, hassle-free and business-friendly implementation of the new VAT law.
Online shopping getting costlier for VAT slap
Amid growing popularity, online shopping is getting costlier soon for the proposed value added tax (VAT) imposed on it in the budget for fiscal 2019-20.
PLEDGES there, ‘HOW’ missing
Rejaul Karim, a college teacher by profession, took a personal loan of Tk 6 lakh at 9.50 percent interest from a private commercial bank in 2015 to tackle some family emergencies.
Smartphone import to be costlier
Imported smartphones are scheduled to turn much costlier as the government has proposed increasing supplementary duty from 10 percent to 25 percent.
Gloom of growers not going away
Gani Mia is a farmer with no land of his own. He grows paddy, jute and other crops in others’ fields. His story, though fictitious, is in school textbooks and etched in the minds of many. It stands true for a large number of the country’s farmers, especially the marginal ones.
BUDGET SPEECH: PM helps out ailing Kamal
Prime Minister Sheikh Hasina yesterday presented parts of the national budget as Finance Minister AHM Mustafa Kamal fell sick halfway through his speech.
Safety for 16 lakh more
In a push to widen the social safety net, the government decided to include all registered differently abled people, and more marginalised and vulnerable ones under its protection.
Deficit financing to be expensive
The government has resorted to deficit financing, largely through bank borrowing and sale of high-cost savings certificates, increasing the interest payment burden on its shoulders and fuelling inflation.
