The interim government of Bangladesh is drafting a tax exemption policy, prohibiting both the government and the National Board of Revenue (NBR) from allowing tax exemptions.
The National Board of Revenue (NBR) has set a target to raise Bangladesh’s tax-to-GDP ratio to 10.5 percent by the fiscal year 2034-35, as part of its newly formulated 10-year revenue strategy, according to official documents.
Touted as a historic overhaul, the move has ignited debate over whether it will drive meaningful reform or merely deepen the layers of bureaucracy, given the NBR's persistent failure to meet its targets.
The Central Intelligence Cell (CIC) of the National Board of Revenue (NBR) has instructed all banks and non-bank financial institutions to freeze the accounts of Asiatic Marketing Communications Limited, one of the country’s leading advertising firms, according to a recent report by UNB.
The new target has raised eyebrows, given the underwhelming performance in revenue collection so far
The prospect of reduced tax benefits has rattled exporters, already wrestling with shifting global trade dynamics, including fresh US tariffs
The National Board of Revenue (NBR) yesterday said there was no scope to reduce corporate or individual tax rates in the budget for the upcoming fiscal year, a stance that businesses opposed.
In the past two years, the NBR brought down tariffs on 60 items within the bound tariff rates based on the panel's suggestion.
It is second duty cut in 10 days
The tax administration issued a notification in this regard yesterday, which was made public today
The National Board of Revenue yesterday revised down the value-added tax and supplementary duty (SD) on nine goods and services, including mobile phone usage, internet services and medicine.
NBR said it has slashed VAT on ready-made clothes, restaurants, sweets, non-AC hotels and motor workshops and mostly restored to the previous levels
The National Board of Revenue is set to revise down the value-added tax (VAT) and supplementary duty (SD) on a number of items including mobile phone usage, internet services, medicine, clothes and restaurants as public outcry became deafening.
These changes in the middle of the fiscal year are unexpected and unwanted as the economy faces significant challenges.
A notification was issued today to this effect
A government taskforce will investigate the country’s 10 major business groups’ alleged money laundering and other misdeeds.
The development came four days after the CIC blocked withdrawals and transfers from the accounts
On May 20, 2024, Chattogram Custom House Deputy Commissioner Mohammad Zakaria was in Kolkata, India, where he had gone for treatment a week earlier.
He speaks at a discussion organised by the Finance Division in collaboration with the World Bank
