Trade in rupee to save at least Tk 1 per dollar: EBL CEO
Trade settlement in rupee between India and Bangladesh would reduce pressure on US dollars and save at least Tk 1 on the exchange cost of each greenback, said Ali Reza Iftekhar, managing director and CEO of Eastern Bank Ltd (EBL).
9 July 2023, 01:20 AM
Wheat import falls for third year straight
Bangladesh’s wheat imports fell for the third consecutive year, suffered by falling consumption for high prices and banks’ sluggishness in opening letters of credit (LCs) amid the US dollar crisis, importers said yesterday.
6 July 2023, 00:15 AM
Sudan war deals fresh blow to jute goods exporters
The war in Sudan has dealt a fresh blow to Bangladesh’s jute goods exports which has been suffering from a downturn for the last two years.
26 June 2023, 00:20 AM
Challenges remain despite drastic cuts in customs duty
Over the years, the government has significantly eased customs duties to facilitate local industries but a lot of challenges still exist, said Zaved Akhtar, chief executive officer and managing director of Unilever Bangladesh Ltd.
25 June 2023, 02:30 AM
Govt’s borrowing goes up amid falling revenue
The government’s dependence on borrowing to finance national budgets has increased over the past decade as revenue collection has failed to keep pace with the ballooning public expenditure.
25 June 2023, 02:00 AM
Tax system enters a new era
The new income tax law of Bangladesh came into effect yesterday, ending a nearly 40-year era of the old ordinance issued in 1984.
22 June 2023, 18:00 PM
Tax break to stay till 2036 for private power producers
The National Board of Revenue (NBR) has extended a tax holiday by 12 years on the income privately-run power plants, except for coal-fired ones, that will start generation of electricity anytime before June 30 next year.
20 June 2023, 18:00 PM
Wealth statement may not be needed
The government is likely to discard its plan to ask for wealth statements from the people who travel abroad, according to officials of the finance ministry.
18 June 2023, 02:00 AM
We want to be number one
In 1998 when Electro Mart Ltd launched its Chinese-manufactured Konka colour television at almost half the prices of international brands, it took many by surprise.
17 June 2023, 18:00 PM
BB frames rules for setting up digital banks
The Bangladesh Bank yesterday approved the guideline on digital banks, paving the way for establishing branchless banking operations, a development that is expected to accelerate cashless transactions and digital transformation.
14 June 2023, 18:00 PM
New law offers scope to strike off TIN-holders
For the first time, the National Board of Revenue (NBR) has sought to grant opportunity to individuals and companies to de-register or make their taxpayer identification number (TINs) dormant owing to no taxable income and dissolution.
14 June 2023, 02:20 AM
Tax collection rebounds in May
Tax collection by the National Board of Revenue (NBR) shot up in May, powered by buoyancy in value added tax (VAT) collection from domestic economic activities and increased income tax receipts, according to a provisional estimate.
13 June 2023, 01:00 AM
Firms enjoying tax exemption to come under greater scrutiny
Companies that enjoy tax exemptions will come under greater scrutiny in the coming days as the tax authority seeks to scan their transactions with associated enterprises in a bid to curb profit shifting and tax evasion.
11 June 2023, 01:40 AM
Govt cuts public food imports to save forex
Bangladesh plans to cut public foodgrain imports in the next fiscal year in an effort to save foreign currencies and avoid putting further pressure on the already strained forex reserves.
6 June 2023, 02:20 AM
Tax Measures: Relief for rich, burden on low-income people
Rich will get a shot in the arm from the tax measures in the new fiscal year. They may not have to pay any surcharge on their net wealth worth up to Tk 4 crore from the next fiscal year as per the proposed tax measures.
1 June 2023, 18:00 PM
Budget stuck in vicious cycle of non-implementation
The government is likely to fail to implement its national budget fully in the ongoing fiscal year owing to policymakers’ over-optimism and a lack of capacity of public agencies.
31 May 2023, 18:00 PM
Are tax policies addressing inequality?
Bangladesh’s economy has been growing at an average 6 per cent annually for the last two decades. Yet the country has witnessed a spike in income and consumption inequality.
31 May 2023, 16:07 PM
Air travel tax may surge
For the first time, domestic air travellers are likely to face a travel tax while people going abroad on airplanes are expected to pay up to 67 per cent higher taxes from next fiscal year as the government looks to increase revenue collection.
30 May 2023, 03:00 AM
NBR to engage agents to help people file tax returns
The tax authority, for the first time, is going to engage individuals to help new taxpayers file tax return in a bid to increase compliance and narrow the gap between registered taxpayers and regular return filers.
28 May 2023, 18:00 PM
Surcharge likely on second car
Owners of more than one car are likely to face an environmental protection surcharge from the upcoming fiscal year as the government plans to discourage the use of vehicles in a bid to contain carbon emissions and air pollution.
28 May 2023, 02:00 AM