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. 

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).

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.

January 17, 2022
January 17, 2022

Ctg custom foils bid to launder Tk 1.6 crore

Chattogram Customs House has seized a consignment on charges of laundering Tk 1.6 crore by exporting 22 times more goods than the declaration.

January 9, 2022
January 9, 2022

Tax collection up 14%

Tax collection grew 14.2 per cent year-on-year to Tk 126,209 crore in the July-December period of the current fiscal year, according to the provisional data of the National Board of Revenue.

January 6, 2022
January 6, 2022

Lawmakers can now import electric cars duty free

The lawmakers will be able to import electric cars and hybrid jeep duty-free from now on, according to a notification of the National Board of Revenue (NBR) issued yesterday.

January 5, 2022
January 5, 2022

'Retail VAT collection will rise if EFDs are installed countrywide'

The collection of retail VAT will speed up if electronic fiscal devices (EFDs) can be installed across the country through outsourcing, said Abu Hena Md Rahmatul Muneem, chairman of the National Board of Revenue (NBR).

December 31, 2021
December 31, 2021

VAT payments of over Tk 50 lakh must be electronic

Businesses seeking to pay value added tax (VAT) of Tk 50 lakh or above will have to use electronic modes from January 1 next year, said the National Board of Revenue (NBR) yesterday.

December 23, 2021
December 23, 2021

Ctg customs seizes Tk 120cr fake cigarette tax stamps

Custom House, Chattogram yesterday seized 1.62 crore fake cigarette tax stamps, worth Tk 120 crore, illegally brought from China.

December 19, 2021
December 19, 2021

Introducing a pro-taxpayer revenue regime

Establishing a pro-taxpayer environment in an emerging economy like Bangladesh where the tax-GDP ratio is hovering around 10-11 per cent requires a very close review of existing rules and regulations one by one, if not word by word in fitting with present day demand of social norms and business practices.

December 16, 2021
December 16, 2021

Customs seizes 3.2cr fake cigarette tax stamps

The Custom House, Chattogram (CHC) has seized 3.2 crore cigarette tax stamps that were illegally brought from China under false pretense.

December 9, 2021
December 9, 2021

38% of revenue comes from VAT: NBR chairman

Over 38 per cent of the revenue collected by the National Board of Revenue (NBR) comes from value-added tax, said Abu Hena Md Rahmatul Muneem, chairman of the tax administrator.’

December 6, 2021
December 6, 2021

Nahid Enterprise sued for dodging Tk 275cr VAT

The VAT Intelligence has sued Nahid Enterprise for evading value-added tax of Tk 275 crore in five years between July 2016 and May 2021.