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

In a notification issued on Sunday, the NBR said it had slashed the tax at source on the import of ingredients for oncology medicines to 2 percent from 5 percent. 

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

Stocks soared yesterday as investors cheered the substantial cut in capital gains tax by the National Board of Revenue (NBR) to encourage big local and foreign investors.

Prior to the rate cut, taxpayers had to pay 30 percent tax on the capital gains over Tk 50 lakh if the gains are realised in five years at any time of a year.

The National Board of Revenue (NBR) yesterday granted a 10-year tax benefit for investments to establish renewable energy-based power facilities with the objective to facilitate generation of clean energy.

NBR also exempted VAT at production and trading of the highly import-based edible oil