Budget 2022-23

Budget 2022-23

Govt can save up to Tk 5,500cr with austerity measures: Finance Ministry

The government can expect to save up to Tk 5,500 crore for the austerity measures taken so far to preserve the foreign exchange reserves and tame inflation, according to the finance ministry.

IBFB criticises move to give amnesty to black money

The regular taxpayers will feel discouraged if there remains an option to whiten money by paying only 7 per cent tax, said Humayun Rashid, president of IBFB.

Laundered money: Kamal takes flak in JS for amnesty

Lawmakers of both the ruling and the opposition parties heavily criticised Finance Minister AHM Mustafa Kamal yesterday for his budget proposal of legalising laundered money for a 7 percent tax.

‘Ensure simple tax measures to attract FDI’

Simplification of tax administration and proper infrastructure development are needed to attract more foreign direct investment (FDI) in Bangladesh, analysts said in a roundtable today.

Achieving budget will be challenging, not impossible: ICMAB

Achieving the huge proposed budget for fiscal year 2022-23 in the post-pandemic period is a huge challenge for the government but it is not impossible, said Md Mamunur Rashid, president of the Institute of Cost and Management Accountants of Bangladesh (ICMAB).

‘Budget cautious, but should reconsider amnesty to black money’

The former Bangladesh Bank governor also stressed the need for cutting unnecessary spending and allocating more for social safety, education and health.

Proposed taxes, reforms praiseworthy: ICAB

The government has made a timely proposal to impose 12 per cent tax on general industries and 10 per cent on green industries, the Institute of Chartered Accountants of Bangladesh (ICAB) said today.

Proposed budget didn't reflect IT industry's demand: BASIS

The top IT trade body Bangladesh Association of Software and Information Services (BASIS) today said the proposed budget did not reflect the industry’s demands for the development of the sector.

Budget to benefit poor, businesses alike

The budget for the next fiscal year will benefit both the poor and the business community alike of Bangladesh, said Finance Minister AHM Mustafa Kamal today.

Priorities are set accurately, but inflation will be biggest headache

The leading chambers and trade body leaders have praised the government for fixing the priority areas of development, but they also said controlling inflation will be biggest headache for the Sheikh Hasina administration in the next fiscal year.

Symptoms diagnosed, but no medication prescribed: CPD

The budget for the upcoming fiscal year has appeared to be insufficient in terms of needed measures, incomplete in terms of outlining strategies and inadequate in terms of addressing the present macroeconomic challenges, said the Centre for Policy Dialogue today.

‘Tackling inflation key challenge for new budget’

Enhancing private sector investment, employment generation, revenue shortfall and financing are some of the challenges of the proposed budget, said Rizwan Rahman, president of the Dhaka Chamber of Commerce and Industry (DCCI).

Day care, other facilities recommended for women’s development

Finance Minister AHM Mustafa Kamal has made a number of recommendations for the development of women in the proposed budget for 2022-23 fiscal. The budget has made recommendations for the future of women's development.

Pay tax timely or lose utility connections

From the next fiscal year, the tax authority is going to introduce a provision of disconnecting utility services of taxpayers for their failure to pay undisputed revenue demand of the government.

VAT exemption, tax holiday offered to promote ‘Made in Bangladesh’ brand

The move aims at making ‘Made in Bangladesh’ a global brand.

Show proof of tax return to avoid interest penalty on deposits

In the proposed tax measures, the tax authority wants to impose 50 per cent tax on the interest earnings if the account holder fails to submit proof of submission of tax returns.

Spending on meditation services to rise

People may have to spend more for taking meditation services from the next month as the finance minister today recommended withdrawing the VAT exemption benefit the services have been enjoying since 2016-17.

Wheelchair, hearing aid to be cheaper

The prices of specialised wheelchair for the physically challenged may fall in the next fiscal year as the finance minister today proposed abolishing all kinds of taxes at the import stage of the item.