Tax and Customs

Tax and Customs

VAT claims against S Alam firms: Govt submits replies to HC rules

The government today submitted before the High Court replies to the rules which questioned the legality of its demand for unpaid VAT and the consequent fines of over Tk 7,000 crore from S Alam Vegetable Oil Ltd and S Alam Super Edible Oil Ltd

2d ago

HC questions govt demands of unpaid VAT from S Alam companies

The High Court today questioned the legality of government's demand for unpaid VAT and the consequent fines of over Tk 7,000 crore from S Alam Vegetable Oil Ltd and S Alam Super Edible Oil Ltd

2w ago

Container of cigarettes seized in Ctg

Chattogram Custom House and Customs Intelligence seized a container of cigarettes on Thursday midnight, which was imported under false declaration

2w ago

Kaus Mia: a role model in a nation where tax noncompliance is rife

The late successful businessman had been one of the highest taxpayers in Bangladesh since 2010-11

3w ago

Kaus Mia, a celebrated taxpayer, is no more 

Md Kaus Mia, one of the highest taxpayers in Bangladesh since 2010-11, has died at the age of 94. 

3w ago

Amnesty for black money promotes injustice, moral hazard: CPD

The state is promoting injustice and moral hazard by allowing the holders of black money to legalise their undeclared assets through payment of 15 percent tax and without facing any questions, said the Centre for Policy Dialogue (CPD) today.

1m ago

Tax from Google, FB: HC issues contempt of court rule against NBR chief

The High Court yesterday issued contempt of court rule against the NBR chairman for not complying with its verdict in 2020, which ordered to submit a report on collection of taxes from Google, Facebook, YouTube, Yahoo, Amazon and other web-based companies before it every six months

1m ago

Who will actually have to pay 30 percent income tax?

What is a progressive tax system? Well, it means that the income tax rate climbs up as the income increases. But that still doesn't mean that the raised income tax rate will apply for the entirety of someone's income

1m ago

New Customs Act 2023 to come into effect on June 6

A new Customs Act 2023 will come into effect from June 6 this year aiming to enhance fiscal discipline, accountability in import revenue collection and trade facilitation

1m ago

Shipping cost keeps upward trend as Red Sea Crisis lingers

Shafiur Rahman, regional operations manager of G-Star in Bangladesh, needs to send 6,146 pieces of denim trousers weighing 4,404 kilogrammes from a Gazipur-based garment factory to Amsterdam of the Netherlands.

1m ago

Laptops may be cheaper in FY2025

The government is planning to reduce duties on imported laptops next fiscal year in order to make the devices more affordable and bring relief to freelancers and students.

1m ago

C&F staff halt work at 4 container depots

Staffers of clearing and forwarding (C&F) agents stopped working at four leading inland container depots (ICDs) in the port city since the early hours today following a dispute with customs officials, which eventually led to a clash between C&F staff and staff of an ICD

1m ago

How GP makes more money than Robi

The profit margin of Grameenphone Ltd was around seven times more than that of Robi Axiata Ltd in 2023.

1m ago

Achieving $110b export target by FY27 is difficult

The government’s target of earning $110 billion from exports by the fiscal year of 2026-27 would be difficult to attain because of the persisting challenges in the global and local economies, economists and businesspeople said.

1m ago

Online tax returns can bring $32b extra revenues annually: CPD

Bangladesh can raise an additional $32.6 billion in revenues annually within the next four years if the electronic filing of tax returns can be ensured, said the Centre for Policy Dialogue (CPD) yesterday.

1m ago

Govt brings down ADP for a lack of fund

The government is currently faced with a lack of funds, evidenced by a reduction in allocations it provided from the exchequer for the upcoming Annual Development Programme (ADP), said Fahmida Khatun, executive director of the Centre for Policy Dialogue.

1m ago

Cash subsidy for exports surges. Only garment yields expected results

The government’s cash incentive against export receipts has soared over the years although many sectors could not make their mark in the global market, bringing in limited results for the government’s diversification initiative.

2m ago

Power producers may lose zero-duty benefit

Power generation companies, including rental ones, may see an end to a zero-duty benefit on their import of machinery, equipment and spare parts from next fiscal year as the government moves towards generating more revenue curtailing the practice of handing out tax exemptions.

2m ago
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