Tax & Customs
FBCCI's plea for tariff protection devoid of reality
On April 4, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urged the government to pay attention to ensuring reasonable protection from customs tariffs for the sake of employment and promoting domestic industries, services and small and medium enterprises.
Tax on provident funds' income: One country, dual policy
A provision in the Income Tax Act 2023 created the discrimination
NBR grants tax benefits to 3 sectors
The government has provided tax benefits to three sectors, namely leather, asset management, and research, to boost competitiveness and foreign currency earnings.
Massive reforms needed in tax laws: experts
Massive reforms are required in tax and VAT laws to mobilise domestic resources and achieve the government’s target to become a developed country by 2041, according to experts.
BCI demands 5-year tax holiday for small businesses
The Bangladesh Chamber of Industries (BCI) yesterday demanded a five-year tax holiday for cottage, micro and small and medium enterprises (CMSMEs) beginning from fiscal year 2024-25 in order to foster their growth.
Insurers seek tax, VAT breaks in next budget
The Bangladesh Insurance Association (BIA), a platform for insurance companies, has proposed withdrawal of the VAT applicable to policyholders in order to help the health insurance sector expand.
Muneem reappointed as NBR chairman
His contractual appointment has been extended by two years
Post-LDC challenges now a headache for Bangladesh: finance secretary
The govt targets achieving one crore direct taxpayers by 2026, he says
Revenue collection will face challenge amid political unrest: NBR chairman
The revenue collection will be very challenging if the political unrest is sustained in the coming months of this year, National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem said today.
No income tax fair this year either
The National Board of Revenue (NBR) will not arrange the income tax fair this year either, making it the fourth consecutive year since 2020 that the fair will not be held.
NBR plans Tk 532cr project for six buildings in six regions
The National Board of Revenue (NBR) plans to undertake a Tk 532 crore project for infrastructure development outside the capital in order to safeguard taxpayers’ files and expand the tax net to collect more revenue.
No source tax for IT freelancers
Bangladesh Bank yesterday clarified that freelancers do not have to pay tax at source on remittance from IT freelancing jobs, ending speculations on social media.
Bangladesh loses $361 million tax a year for corporate tax abuse
A report by the Tax Justice Network (TJN) reveals
Tax collection target missed for 11th year in a row
For the 11th consecutive year, the National Board of Revenue (NBR) has missed its tax target in the face of slowing growth of collections amidst economic slowdowns and ambitious goals set by the government.
Income tax bill passed
The Income Tax Bill 2023 was passed in parliament yesterday, replacing The Income-tax Ordinance 1984.
Income tax lawyers protest draft rule
Dhaka Taxes Bar Association staged a demonstration and besieged the National Board of Revenue (NBR) building at Agargaon in Dhaka for a couple of hours yesterday demanding cancellation of a newly announced draft tax return preparer (TRP) rule.
Tax rebate scope for investment in mutual funds narrows
The draft Income Tax Bill 2023 has delivered bad news for big investors of mutual funds though it has retained all benefits for stock investors, including the capital gains tax.
