Power generation companies, including rental ones, may see an end to a zero-duty benefit on their import of machinery, equipment and spare parts from next fiscal year as the government moves towards generating more revenue curtailing the practice of handing out tax exemptions.
Investors in the economic zones and hi-tech parks in Bangladesh may see an end to the zero-duty benefit on imports of capital machinery, components and construction materials next fiscal year.
Mobile phone calls and metro rail commutes among other daily activities may cost more in the next fiscal year as the government looks to increase taxes to boost its revenue collections.
The National Board of Revenue seeks to impose 25 percent import duty on cars for lawmakers, reversing a practice of tax exemptions that amounted to Tk 5,147 crore over the last 15 years.
State-run Power Grid Company of Bangladesh Ltd (PGCBL) imported 68 kilograms of tower bolts, nuts and washers from India for a whopping $2,39,695 or Tk 2.63 crore, which is 1,619 times the contract value.
Bangladesh’s first and only sandpaper plant is struggling to expand its footprint owing to unhealthy competition from importers, who are allegedly under-invoicing prices of the abrasive paper.
The National Board of Revenue has suspended all imports and exports by Abdul Monem Group and all its subsidiaries, including Abdul Monem Sugar Refinery, over misuse of bond facilities and non-payment of applicable duty and fines worth Tk 674.35 crore.
It also instructs banks to freeze the Group's bank accounts
Power generation companies, including rental ones, may see an end to a zero-duty benefit on their import of machinery, equipment and spare parts from next fiscal year as the government moves towards generating more revenue curtailing the practice of handing out tax exemptions.
Investors in the economic zones and hi-tech parks in Bangladesh may see an end to the zero-duty benefit on imports of capital machinery, components and construction materials next fiscal year.
Mobile phone calls and metro rail commutes among other daily activities may cost more in the next fiscal year as the government looks to increase taxes to boost its revenue collections.
The National Board of Revenue seeks to impose 25 percent import duty on cars for lawmakers, reversing a practice of tax exemptions that amounted to Tk 5,147 crore over the last 15 years.
State-run Power Grid Company of Bangladesh Ltd (PGCBL) imported 68 kilograms of tower bolts, nuts and washers from India for a whopping $2,39,695 or Tk 2.63 crore, which is 1,619 times the contract value.
Bangladesh’s first and only sandpaper plant is struggling to expand its footprint owing to unhealthy competition from importers, who are allegedly under-invoicing prices of the abrasive paper.
The National Board of Revenue has suspended all imports and exports by Abdul Monem Group and all its subsidiaries, including Abdul Monem Sugar Refinery, over misuse of bond facilities and non-payment of applicable duty and fines worth Tk 674.35 crore.
It also instructs banks to freeze the Group's bank accounts
Five companies are enjoying an oligopoly in the sugar market, which was worth more than Tk 9,000 crore in fiscal year 2022-23, as they have expanded their refining capacities to meet increasing demand.
Data from the National Board of Revenue (NBR) shows that nearly 25.7 lakh tonnes of soybean and palm oil were imported in 2023, with the four companies accounting for 80 percent of the total amount.