Bangladesh National Budget 2019-20
Tk 5,23,190cr budget passed in JS
Parliament passes the Tk 5,23,190 crore national budget for 2019-20 fiscal themed as “Bangladesh on a Pathway to Prosperity: Time is Ours, Time for Bangladesh.”
NBR to lose Tk 400cr for pampering tobacco companies
The National Board of Revenue’s move to change the VAT and Supplementary Duty Act 2012 to offer input tax credit to cigarette
New VAT system to bring in Tk 11,000cr more
The National Board of Revenue expects to collect about Tk 11,000 crore more for imposition of VAT on various goods and services and increasing rates on many others, said its officials.
Textile millers seek exemption of 5% VAT on sale of local yarn
Textile millers demand an exemption of 5 per cent value added tax (VAT) on sale of local yarn to make the domestic yarn market more competitive.
Budget Discussion: Opposition slams govt over paddy price
Opposition lawmakers yesterday came down heavily on the government for its failure to ensure fair price of paddy and check money laundering, soaring loan defaults and black money.
New VAT law to hurt consumers: Analysts
The government’s move to implement the new VAT law without rebate facility for reduced rates will hurt consumers because of price spike of many goods and services, analysts say.
Budget anti-people: Gonoforum
Gonoforum rejects the proposed national budget for 2019-20 fiscal terming it as frustrating and anti-people.
Manage deficit financing from other sources rather than banking channel
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urges the government to manage fund from other sources rather than banking channel to finance the deficit financing in 2019-20 fiscal.
The affluent to benefit more
The budgetary measures for fiscal 2019-20 will favour the beneficiaries of “economic misrule” and hurt the middle and lower mid-income groups, the Centre for Policy Dialogue said yesterday.
Growth-friendly, albeit unrealistic
The new budget is growth-friendly and has set ambitious goals but shied away from addressing the key challenges confronting the economy, said a number of economists in their immediate reactions.
Mega but slow
In 2010, the government decided to construct a 128-kilometre (km) metre gauge rail track to link Chattogram with tourist town Cox’s Bazar at a cost of Tk 1,852.35 crore.
‘Most shoddy food items taken off shelves’
Bangladesh Food Safety Authority (BFSA) has prepared a report claiming that it has removed most of the 52 substandard food items from the market across the country and filed 52 cases against the companies concerned as per the High Court directives.
THE BIG FOUR
THE BIG FOUR
Mobile phone calls may get costlier
Mobile phone services are likely to become costlier from today due to increased taxes. The National Board of Revenue sent a regulatory order to the mobile carries to increase the supplementary duty (SD) to 10 percent from 5 from midnight yesterday.
New VAT Regime New concern for consumers
Shifting from its initial plan to slap a uniform rate, the government has finally proposed four rates of Value Added Tax to please businesspeople and take them on board to implement the new VAT law from the next fiscal year.
Devalue Taka to help garment exporters
The government should support the garment exporters by devaluing taka against US dollar instead of giving them direct cash incentives, two economists said yesterday.
Smoking gets costlier
The government has significantly raised the prices of tobacco products to curb consumption.
PLEDGES there, ‘HOW’ missing
Rejaul Karim, a college teacher by profession, took a personal loan of Tk 6 lakh at 9.50 percent interest from a private commercial bank in 2015 to tackle some family emergencies.
Smartphone import to be costlier
Imported smartphones are scheduled to turn much costlier as the government has proposed increasing supplementary duty from 10 percent to 25 percent.
