1w ago| Tax and Customs

Govt, EU agree to ease customs clearance at ports

Bangladesh and the European Union yesterday agreed to form a joint committee to find out the challenges standing in the way of smooth customs clearances and the opportunities a simplified procedure can offer for both express and non-express air cargoes. 

1w ago| Economy

Fund for workers: FICCI opposes tax on contribution

The Foreign Investors’ Chamber of Commerce and Industry (FICCI) yesterday expressed concerns over a provision in the proposed national budget for fiscal year 2022-23 that would require companies to pay tax on their contributions towards the Workers’ Profit Participation Fund (WPPF).

2w ago| Tax and Customs

Proposed tax cuts from 360-degree perspectives

Finance Minister A H M Mustafa Kamal FCA, MP placed his fourth national budget in parliament on June 9, proposing reducing the tax burden on businesses significantly. The proposed base income tax rate is 27.5 per cent, a reduction by 2.5 percentage points from the current 30 per cent.  

DCCI for lowering corporate tax rate by 2.5 percentage points

The Dhaka Chamber of Commerce and Industry (DCCI) today urged the National Board of Revenue (NBR) to cut the corporate tax for listed and non-listed companies by 2.5 percentage points in the next fiscal year.

Ctg customs seize 1.68 crore cigarettes imported as ‘raw material for garments’

Officials of Chattogram Custom House today seized 1.68 crore cigarettes which were imported under false declaration and fake documents.

CPD urges NBR to take tax measures to give relief to low-income groups

The National Board of Revenue (NBR) should reduce the duties and taxes, both at import and domestic levels, for essential commodities to provide some respite to consumers with low and limited income amid soaring inflation, said the Centre for Policy Dialogue (CPD) today.

June 24, 2022
June 24, 2022

Govt, EU agree to ease customs clearance at ports

Bangladesh and the European Union yesterday agreed to form a joint committee to find out the challenges standing in the way of smooth customs clearances and the opportunities a simplified procedure can offer for both express and non-express air cargoes. 

June 23, 2022
June 23, 2022

Fund for workers: FICCI opposes tax on contribution

The Foreign Investors’ Chamber of Commerce and Industry (FICCI) yesterday expressed concerns over a provision in the proposed national budget for fiscal year 2022-23 that would require companies to pay tax on their contributions towards the Workers’ Profit Participation Fund (WPPF).

June 21, 2022
June 21, 2022

Proposed tax cuts from 360-degree perspectives

Finance Minister A H M Mustafa Kamal FCA, MP placed his fourth national budget in parliament on June 9, proposing reducing the tax burden on businesses significantly. The proposed base income tax rate is 27.5 per cent, a reduction by 2.5 percentage points from the current 30 per cent.  

June 21, 2022
June 21, 2022

NBR makes VAT registration easier for firms

The National Board of Revenue (NBR) has relaxed rules regarding value-added tax (VAT) registration of manufacturing entities operating in Bangladesh, a move welcomed by the businesses as it would reduce their cost of compliance. 

June 17, 2022
June 17, 2022

Be pragmatic to deal with budget execution challenges

The government should be pragmatic about addressing the challenges it will face while implementing the budget for the upcoming fiscal year, said the Institute of Chartered Accountants of Bangladesh (ICAB) yesterday.

June 17, 2022
June 17, 2022

Firms unlikely to benefit from corporate tax cut

Most of the companies in Bangladesh may not qualify for the 2.5 percentage points cut in the corporate tax rate as proposed in the budget for the upcoming fiscal year owing to stringent conditions.

June 16, 2022
June 16, 2022

Widen listed, non-listed tax gap

Merchant bankers have requested the government to further decrease the corporate tax rate for listed companies such that it attracts non-listed ones into going public. 

June 11, 2022
June 11, 2022

Businesses upbeat over tax measures

Business chambers and trade bodies welcomed the business-friendly measures in the proposed budget for the next fiscal year as the country’s economy strives to recover from the fallouts of the pandemic, the Russia-Ukraine war and high inflation.

June 9, 2022
June 9, 2022

Proof of tax return submission mandatory

Contractors and suppliers failing to submit proof of submission of income tax returns may have to pay an additional 50 per cent source tax from the next fiscal year.

April 28, 2022
April 28, 2022

Higher tax barrier to digital inclusion

Taxes and fees as a percentage of mobile sector revenues in Bangladesh are more than double the Asia Pacific average, subsequently leaving a negative impact on access and use of mobile technology, says a GSMA report released yesterday.