Tax & Customs
Investors in hi-tech parks, EZs may lose tax benefits
Investors in the economic zones and hi-tech parks in Bangladesh may see an end to the zero-duty benefit on imports of capital machinery, components and construction materials next fiscal year.
Alternatives to cash incentives planned for exports
The government plans a new export promotion fund as an alternative to direct cash incentives for export-oriented sectors to help the country face challenges resulting from its graduation to a developing nation in 2026.
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.
Govt honours top taxpayers
The government today honoured 76 individual highest taxpayers, including Transcom Group Chairman Shahnaz Rahman, The Daily Star Editor and Publisher Mahfuz Anam, and Prothom Alo Editor Matiur Rahman, for depositing the highest amount of taxes to the state coffer in 2021-22 fiscal year.
Taxpayers can file return on Jan 1: NBR
The National Board of Revenue today said it will accept tax returns from individual taxpayers on the first day of January 2023.
NBR awards 9 highest VAT-paying firms
The National Board of Revenue (NBR) yesterday awarded nine firms for paying the highest amounts of value-added tax (VAT) in fiscal year 2020-21.
Most of 1.16cr eligible income taxpayers out of tax net
Most of the 1.16 crore people capable of paying income taxes in Bangladesh have remained out of the tax net of the National Board of Revenue (NBR), according to a senior official of the tax administration yesterday.
Tax return submission deadline may be extended till Dec 31
The National Board of Revenue (NBR) may extend by one month the deadline for the submission of income tax returns amid demands from various quarters, said officials today.
Nearly 90% income tax comes from Dhaka, Chattogram
Dhaka and Chattogram account for 90 per cent of the income tax collected from across Bangladesh each year and so, the National Board of Revenue (NBR) should work on widening the tax net, according to speakers at a seminar.
Govt okays purchase of 6 container scanners
Cabinet Committee on Government Purchase yesterday approved a proposal for purchasing six container scanner systems from Nuctech Company Ltd worth Tk 327.1 crore..According to the Internal Resources Division (IRD), The National Board of Revenue (NBR) in October 2019 planned to buy 14 conta
Ctg customs demand Tk 5,227cr from Petrobangla in unpaid duties
The Chattogram Customs House has demanded Tk 5,227 crore as unpaid duties from Bangladesh Oil, Gas & Mineral Corporation (Petrobangla) against 89 consignments of liquefied natural gas (LNG).
Impact of tax exemption needs analysis
The personal income tax collection to gross domestic product (GDP) ratio can be raised to 3.1 per cent from the current 1 per cent or so if the government can get all eligible individuals to pay taxes, according to a study unveiled yesterday.
Tax calculation: know your numbers
Today, Abdul Karim will complete the second part of the first page of the tax return form.
