National Budget 2020-21
MCCI, DCCI, BUILD demand review in 7 areas of proposed budget for FY 2020-21
Leaders of three leading business chambers demand deletion of certain proposed new provisions in the VAT Act 2012 and Income Tax Ordinance 1984 in order to maintain a business-friendly tax regime in light of the Covid-19 induced economic situation.
JS passes Tk 46,516.11 crore supplementary budget for FY 2019-20
The Jatiya Sangsad today passed the supplementary budget of Tk 46,516.11 crore for the 2019-20 fiscal year to meet additional expenditures under different ministries and departments in the outgoing fiscal year.
Whitening black money now more lucrative than ever
With the opportunity offered to money launderers by the government to whiten black money failing to draw a significant response, the new budget has made a new, lucrative proposition -- invest the money and no one, not even the income tax authority, will be able to question its source.
People’s lives, livelihoods ignored in budget: says Amir Khashru
BNP Standing Committee Member Amir Khasru Mahmud Chowdhury says that people’s lives and livelihoods had been ignored in the proposed national budget for the 2020-21 fiscal year.
Government mulls 50 percent penalty to prevent laundered money
Finance Minister AHM Mustafa Kamal has proposed imposing a 50 percent penalty on misdeclaration of exports, imports and investments in overseas countries as the government aims to increase tax revenue and prevent money laundering, according to the budget proposal for fiscal year 2020-21.
All aren’t equal to government
Protected and unprotected: an oblique line of the government’s preference separated the two.
No talk on crisis in mega projects during budget session
Despite major projects in transport sector being either halted or delayed due to the coronavirus outbreak, no course of action was chalked out during the budget session today on the projects.
Budget 2020-21: Middle class left out as always
Save for a slash in the income tax, there is no respite in this year’s budget for penny-pinching middle class families.
RMG export: 1pc additional cash incentive to continue, source tax hiked to 0.5pc
Finance Minister AHM Mustafa Kamal has proposed continuation of 1 percent additional cash incentive for the country’s garment export in 2020-21 fiscal year too, considering the economic fallout from Covid-19 pandemic.
Tk 568,000 crore budget unveiled; 8.2pc GDP growth target set
Finance Minister AHM Mustafa Kamal today placed Tk 568,000 crore national budget for 2020-21 fiscal with an ambitious target of 8.2 percent GDP growth amid the economic fallout due to the coronavirus pandemic.
Continue giving 2% cash incentives on remittance: Finance minister proposes
Finance Minister AHM Mustafa Kamal has proposed continuation of the 2 percent cash incentive on remittance sent by Bangladeshi migrants.
Tk 100 crore health research fund proposed
Finance Minister AHM Mustafa Kamal today proposed to form an Integrated Health-Science Research and Development Fund’ of Tk 100 crore to finance the development of research in health-education and science and technology.
Tobacco products to become costlier in FY 2020-21
Cigarettes will be costlier as the finance minister AHM Mustafa Kamal proposed to increase supplementary duty on tobacco consumption.
Chartered flights to become costlier; supplementary duty hiked to 30pc
Finance Minister AHM Mustafa Kamal has increased supplementary duty from 25 percent to 30 percent in the proposed budget for 2020-21 fiscal which would result in costlier operation of special chartered flights.
Disaster management and relief budget to be decreased in upcoming fiscal year
Despite much of the south-western parts of the country still reeling from the shock and damage of Cyclone Amphan, Finance Minister AHM Mustafa Kamal today proposed a reduction in allocation in budget for disaster management and relief.
Tk 29,247 crore proposed for health services, health education, family welfare
Finance Minister AHM Mustafa Kamal today proposed to allocate Tk 29,247 crore for the Health Services Division and Health Education and Family Welfare Division in the 2020-21 fiscal year.
No individual tax for income below Tk 3 lakh
The tax-free income limit for individual taxpayer has been increased in the proposed budget for FY 2020-21.
Gold prices may fall as finance minister proposes withdrawal of import VAT
The price of gold is likely to decline as Finance Minister AHM Mustafa Kamal today proposed withdrawal of VAT on import of gold.
Source tax rate from exports doubles to 0.5 percent
Exporters will face 0.5 percent tax at source of their export earnings from the next fiscal year as the existing 0.25 percent tax benefit is set to end this fiscal year, according to tax proposals placed by Finance Minister AHM Mustafa Kamal for the 2020-21 fiscal.
