It is a matter of great concern that Bangladesh has been experiencing widespread corruption for many years at almost all levels, impacting the growth of the economy and the country as a whole.
Bangladesh has struggled for decades to attract foreign direct investment (FDI). Occasionally, promising prospects emerged, only to fade away for various reasons. For a country with no significant mineral resources and a large population of unskilled and semi-skilled workers facing high unemployment, FDI is vital.
There is no denying the fact that Bangladesh’s economy has grown at a steady and relatively fast pace since the early 1990s.
There is no denying that Bangladesh’s economy has grown at a fast and more or less constant rate since the early 90s. Similarly, our dependence on foreign loans and grants for development budget had also reduced after, among others, the introduction of VAT.
Providing securities and guarantees is very common in corporate lending. Securities are immovable and moveable tangible assets and might be in the forms of pledge, hypothecation or in any other form.
In recent years, Bangladesh’s position in the global corruption index has been a major concern. Under the previous regime, the situation deteriorated, especially as people in power and their families became more deeply involved in corruption. While corruption exists in most countries, the question is its magnitude. If it goes beyond a tolerable level, it can severely affect the economy and its growth. There is a general perception that a 10 percent reduction in corruption can positively impact GDP growth by 1 percent, although this relationship varies by country and requires further research.
With 53 years having passed since Bangladesh gained independence, it is now considered as one of the next emerging economies in Asia and has the prospect of being ranked among middle-income countries.
The idea of establishing a Large Taxpayers Unit (LTU) in Bangladesh originated from the government’s desire to introduce modern methods of tax administration, although in a limited scale. It started functioning in 2003.
It is a matter of great concern that Bangladesh has been experiencing widespread corruption for many years at almost all levels, impacting the growth of the economy and the country as a whole.
Bangladesh has struggled for decades to attract foreign direct investment (FDI). Occasionally, promising prospects emerged, only to fade away for various reasons. For a country with no significant mineral resources and a large population of unskilled and semi-skilled workers facing high unemployment, FDI is vital.
There is no denying the fact that Bangladesh’s economy has grown at a steady and relatively fast pace since the early 1990s.
There is no denying that Bangladesh’s economy has grown at a fast and more or less constant rate since the early 90s. Similarly, our dependence on foreign loans and grants for development budget had also reduced after, among others, the introduction of VAT.
Providing securities and guarantees is very common in corporate lending. Securities are immovable and moveable tangible assets and might be in the forms of pledge, hypothecation or in any other form.
In recent years, Bangladesh’s position in the global corruption index has been a major concern. Under the previous regime, the situation deteriorated, especially as people in power and their families became more deeply involved in corruption. While corruption exists in most countries, the question is its magnitude. If it goes beyond a tolerable level, it can severely affect the economy and its growth. There is a general perception that a 10 percent reduction in corruption can positively impact GDP growth by 1 percent, although this relationship varies by country and requires further research.
With 53 years having passed since Bangladesh gained independence, it is now considered as one of the next emerging economies in Asia and has the prospect of being ranked among middle-income countries.
The idea of establishing a Large Taxpayers Unit (LTU) in Bangladesh originated from the government’s desire to introduce modern methods of tax administration, although in a limited scale. It started functioning in 2003.
Bangladesh has an estimated population of more than 16 crore, but the number of registered taxpayers (e-TIN holders) is roughly 38
