national budget 2022-23
9 out of 10 Bangladeshi children want more education, health allocation: Unicef survey
Nine out of ten Bangladeshi children say it is very important for the government to spend more on education, health and other areas that directly impact children, according to a new survey of Unicef.
LIQUEFIED PETROLEUM GAS / VAT reduction extended for cylinder makers
The National Board of Revenue (NBR) has extended for another year a value added tax (VAT) reduction for local liquefied petroleum gas (LPG) cylinder manufacturers, who believe it would help keep fuel prices low against rising demand.
Only 5.43% of total budget allocated for health sector
The health sector was yet again neglected in the national budget, with Finance Minister AHM Mustafa Kamal earmarking around Tk 36,864 crore -- 5.43 percent of the total budget -- for the sector.
Budget 2022-23: Inflationary concerns not addressed adequately
If one looks at the inflationary measures that are proposed in the FY2022-23 budget, there are ample reasons to be frustrated.
Budget FY2022-23: How much did general people gain?
What percentage of public demand was reflected in the budget for the fiscal year 2022-23?
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.
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.
ICT Division get increased allocation of Tk 274 crore
According to the budget for the fiscal year 2022-23, it has been proposed that Tk 1,917 crore will be allocated for the ICT Division.
Broadband likely to be more expensive
A 10 percent supplementary duty on the import of optical fiber cable has been proposed in the new budget for FY 22-23. Md Imdadul Hoque, President of Internet Service Providers Association of Bangladesh (ISPAB), says that the increased taxation on optical fiber import will increase the price of broadband internet in the country.
5% advance tax on gold import goes
The government is set to withdraw a 5 per cent advance tax on the import of gold in the fiscal year of 2022-23 to encourage the import of the precious metal through formal channels and discourage smuggling.
Tech giants must submit income tax returns
Tech giants such as Google or Meta (Facebook) will have to submit income tax returns from next fiscal year.
Tk 16,000 crore subsidy for fertiliser proposed
The government is going to increase the subsidy by big margin for fertilisers in the next fiscal year (2022-23) due to the sharp rise in its price in the global markets.
Laptop prices set to increase
Laptop prices are set to increase, after Finance Minister AHM Mustafa Kamal proposed to impose a 15 percent value added tax (VAT) on imported laptops in the proposed budget for the next fiscal year 2022-23.
Cars, motorcycles to cost more
In the proposed budget for the fiscal year 2022-23, the supplementary duty has been increased for motor vehicles. This may increase the prices of cars and motorcycles.
Social safety net allocation to rise 5.5%
Finance Minister AHM Mustafa Kamal today proposed increasing the allocation by 5.5 per cent year-on-year for social safety net programmes carried out by the government.
Hefty subsidy to create challenge for budget management: Kamal
A hefty amount of subsidy allocated by the government to offset the price increases in the global market may pose a challenge in the budget management for the next fiscal year, said Finance Minister AHM Mustafa Kamal today.
Garment or non-garment -- same tax rates for all export industries
The government has proposed a uniform tax rate on the earnings of the services export and goods with a view to encouraging diversification of export goods and ensuring a level-playing field for all other sectors exporting goods and services.
6 challenges for Finance Minister
Finance Minister AHM Mustafa Kamal sees six major challenges for the fiscal year 2022-23:
Additional 1% cash incentive on garment exports to continue
The additional 1 per cent cash incentive on the export receipts of readymade garments would continue in the next fiscal year as the government looks to boost the shipment of clothing items.
