ICT sector’s demands not reflected in budget: BASIS

The proposed budget does not reflect the ICT sector’s demands although they are aimed at accelerating the development of the industry, said the Bangladesh Association of Software and Information Services (BASIS) yesterday.
11 June 2022, 18:00 PM

Budget to spur entrepreneurship

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has welcomed the proposed national budget for the upcoming fiscal year, saying some of the steps will help entrepreneurs.
11 June 2022, 18:00 PM

Lowering penalty business friendly

The proposed reduction of the fine on businesses failing to pay value added tax (VAT) in the national budget for fiscal year 2022-23 will reduce operational costs, said The Institute of Chartered Accountants of Bangladesh (ICAB) yesterday. 
11 June 2022, 18:00 PM

Taka gains after months

Local currency taka gained in value by Tk 0.50 to Tk 91.5 per US dollar at the interbank platform yesterday after facing a continuous slide in the last couple of months. 
9 June 2022, 04:45 AM

Budget 2022-23: Time for austerity, time for generosity

Austerity and generosity may not go hand in hand, but Finance Minister AHM Mustafa Kamal faces a situation where he has to apply both when he unveils the budget for the next fiscal year today.
9 June 2022, 04:00 AM

Budget 2022-23: Kamal determined to ride out uncertainty

AHM Mustafa Kamal, whose life has been full of struggles, had dreamt of becoming the finance minister, so he consciously entered politics.
9 June 2022, 03:45 AM

Tax cuts for cashless transactions

Listed and non-listed companies using banks and digital means to receive all receipts and income and carry out all expenditures and investments of over Tk 12 lakh are likely to enjoy a 2.5 percentage point tax cut from next fiscal year.
8 June 2022, 18:00 PM

Startups need to file tax returns

The tax authority apparently seeks to cut turnover tax for startups to 0.1 per cent from the next fiscal year from the existing 0.6 per cent to facilitate the growth of budding entrepreneurs.
8 June 2022, 18:00 PM

Advance tax on gold import reduced

Advance income tax on the import of gold is expected to be withdrawn from the next fiscal year as the government wants to encourage formal trade of the precious metal and curb smuggling.
8 June 2022, 18:00 PM

China may give more duty benefits for Bangladeshi goods

China is going to increase duty benefits for Bangladesh, allowing one percentage point more Bangladeshi products free access to its markets, saying it was to reduce the trade imbalance between the two countries. 
8 June 2022, 18:00 PM

Tax incentive for hiring physically challenged

Employers hiring over 25 persons who are physically challenged or of the third gender or over 10 per cent of whose employees comprise such persons are expected to become eligible for a tax rebate.
8 June 2022, 18:00 PM

Exporters to pay higher source tax

Although exporters of all sectors are going to enjoy 10 per cent (green businesses) and 12 per cent (non-green businesses) corporate tax in line with garment makers, source tax on export proceeds is likely to double to 1 per cent from the next fiscal year.
8 June 2022, 18:00 PM

Exports through Akhaura land port on the decline

The volume of exports through Akhaura land port in Brahmanbaria has fallen significantly over the past six years as increased connectivity between north-eastern Indian states and other parts of the country helped them reduce imports from Bangladesh.
8 June 2022, 05:00 AM

Taka loses further ground vs dollar

The local currency yesterday depreciated further against the US dollar, hitting Tk 92 for each greenback in the interbank platform.
8 June 2022, 04:30 AM

Govt’s borrowing from banks to go up

The government’s borrowing from the banking system has started to go up mainly due to its lacklustre performance in revenue collection and falling investment in savings certificates. 
8 June 2022, 04:00 AM

FY 2022-23 budget to be cautiously larger

The government is preparing the budget in a cautious way, refraining from increasing expenditure by too much of an extent, keeping in mind the ongoing global economic crisis stemming from the pandemic and Russia-Ukraine war, State Minister for Planning Shamsul Alam said.
8 June 2022, 03:30 AM

Plastic toys poised to be the next big export earner

The plastic toy industry could play a significant role in expanding Bangladesh’s export basket as shipments are expected to hit an estimated $466.31 million by 2030 if the current annual growth trend holds steady at 24 per cent, according to speakers at a seminar.
7 June 2022, 18:00 PM

ICC Bangladesh executive board reelected

The International Chamber of Commerce (ICC)-Bangladesh has reelected its president for a two-year term (April 2022 to March 2024).
7 June 2022, 18:00 PM

NBFIs asked not to write off loans of scamsters

The Bangladesh Bank yesterday asked non-bank financial institutions (NBFIs) not to write off default loans swindled by scammers.
7 June 2022, 18:00 PM

Farm mechanisation a solution to labour crisis

The use of machinery for agriculture, particularly tilling land, harvesting crops, threshing grains and packing produce, is rising in northern districts such as Dinajpur and Rangpur as it is cheaper and more efficient compared to manual farming methods, according the Department of Agricultural Extension.
7 June 2022, 05:00 AM