Bangladesh Budget 2018-19
Minister suggests lowering prices of liquor
Housing and Public Works Minister Engr Mosharraf Hossain suggests cutting down customs duty on liquor for the sake of flourishing tourism in the country.
No VAT on remittance: NBR
No VAT or tax has been imposed on remittance in the proposed budget for 2018-19 fiscal year, the National Board of Revenue (NBR) says.
Muhith under attack in JS for mollycoddling banks
Opposition MPs continue their scathing attacks on Finance Minister AMA Muhith in Parliament for his 'failure' to restore discipline in the banking sector.
Punish those involved in Bank scam: FBCCI
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) demands stern punishment for the people involved in in misappropriating money from the country's banks.
Tax measures to hurt middle class
The proposed budgetary measures for fiscal 2018-19 will benefit the high and low income people, leaving the middle- and lower middle-class, which form the majority of Bangladesh's population, strained, said the Centre for Policy Dialogue yesterday.
Cut corporate tax for all sectors
Leading chambers and trade bodies yesterday criticised the government's 2.5 percent corporate tax cut proposal for only banks and financial institutions in fiscal 2018-19, saying the move would not bring in the desired private or foreign investments.
‘No VAT on online shopping’
Online shopping will be excluded from the purview of 5 percent value added tax (VAT) that was proposed on virtual businesses in the budget for FY 2018-19.
No cheers in tax measures
Every year when the budget is placed in the parliament, Taufiq Hasan, a 35-year-old private sector employee, gets all worked up about which products and services he would have to pay more the following fiscal year.
Bowing to banks
The government is continuing to treat banks with kid gloves instead of going tough on them for the rampant financial irregularities and continued poor judgement.
Govt sets up 8,000 km fibre optic cable nationwide: Muhith
Citing the government's commitment to ensure a 'Digital Bangladesh', Finance Minister AMA Muhith says that 8,000 km of optical fibre cables have been installed in 1104 union parishads of 114 upazilas in 64 districts.
VAT imposed on ride-sharing services
Government is planning to impose 5 percent value added tax on the ride-sharing services which will make the new kind of transporting system in big cities of the country costlier.
Muhith wants to have Facebook, Google, Youtube under tax net
Finance Minister AMA Muhith proposes introduction of new provisions in the tax laws over the taxation of virtual and digital sectors, such as Facebook, Google, Youtube, on their incomes earned in Bangladesh.
Nothing new in budget: Raushon
Terming the proposed budget “traditional”, Raushon Ershad, leader of the opposition in the parliament, says there is nothing new in it.
Tk 1,498 cr to be spent for development of sports
The government allocates Tk 1,498 crore for the Youth and Sports Ministry in the proposed budget for fiscal year 2018-19, Tk 307 crore up from the revised budget of the last fiscal year.
Allocation for education sector raised by 11pc
The government proposes raising allocation in the education sector by 11 percent to Tk 53,054 crore for the next fiscal year compared to the revised allocation in the outgoing fiscal year.
Prices of energy drinks, cigarette-bidi papers to rise
Energy drink and cigarette-bidi papers prices are expected to go up with the additional supplementary duty proposed in the budget for fiscal 2018-19.
Imported mobile handsets to be costlier
Imported mobile phone handsets will be costlier as Finance Minister AMA Muhith proposes to increase 1 percentage point surcharge in his budget speech for fiscal 2018-19.
Wounded freedom-fighters, families to get Tk 400cr
Finance Minister AMA Muhith proposes to allocate Tk 400 crore in 2018-19 fiscal to support insolvent war-wounded and sick freedom-fighters or their spouses, children or grand-children.
Tk 42,000cr bank borrowing to finance deficit
Finance Minister AMA Muhith proposes to borrow Tk 42,029 crore from the banking sources to manage the deficit financing.
