Mohammad Suman

Power producers may lose zero-duty benefit

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.

3d ago

Investors in hi-tech parks, EZs may lose tax benefits

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.

4d ago

From mobile users to metro commuters, Bangladeshis to face more tax

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.

5d ago

MPs may lose duty waiver for car imports

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.

6d ago

Goods worth Tk 16k imported at Tk 2.63 crore

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.

1w ago

Under-invoicing by importers crowding out country's lone sandpaper maker

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.

3w ago

NBR halts export, import by Abdul Monem Group

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.

3w ago

NBR halts Abdul Monem Group's import, export

It also instructs banks to freeze the Group's bank accounts

3w ago
April 16, 2024
April 16, 2024

NBR issues 'electric seal and lock rules' for fourth time

Earlier, there was a provision for the service providers to be appointed by a committee appointed by the board, said Rahman. Now the company which can provide this service at a low cost will be given the job, he explained.

April 2, 2024
April 2, 2024

NBR issues gazette to process imports faster

The National Board of Revenue (NBR) has issued a gazette notification stipulating that imports have to be declared well in advance of the previous deadline for notifying of their arrival, all to reduce false declarations and enable quick releases.

April 1, 2024
April 1, 2024

Matarbari Power Plant: Tk 93 lakh for two pipe cutters!

On January 9, 2024, a small shipment weighing 344.5 kilograms arrived at Chattogram port. The shipment worth $250,863 (Tk 2.75 crore) contained 19 pieces of small tools such as hammer, metal pipe cutter and silicon guns imported for state-owned Coal Power Generation Company Bangladesh Limited (CPGCBL), which is constructing Matarbari power plant in Cox’s Bazar.

March 20, 2024
March 20, 2024

Why do high prices persist despite govt steps?

Consumers were not spared even during the fasting month of Ramadan, a time to show self-restraint, even though there have been a lot of promises and drives on the part of the government. Therefore, while devotees perform their religious duty, the escalated prices of essentials have continued to give them hard times.

March 7, 2024
March 7, 2024

Sugar prices edge up as traders tighten supply

Sugar prices have gone up at both the wholesale and retail levels amid hoarding by traders on speculation of reduced supply after the fire incident at S Alam Refinery, one of the largest raw sugar importers and refiners in Bangladesh.

February 28, 2024
February 28, 2024

Electric vehicles etching their way into domestic automobile industry

The automobile industry of Bangladesh is seeing a notable shift towards electric vehicles (EVs) with BYD Auto Co Ltd, the world’s biggest EV maker, set to launch its Seal model on the domestic market.

February 16, 2024
February 16, 2024

Govt to promote value-added products for post-LDC era

The government is considering further incentives while emphasising ICT and advanced technology in order to increase the production of value-added products as part of preparations for graduation from least developed country (LDC) status, Chairman of the National Board of Revenue (NBR) Abu Hena Md Rahmatul Muneem said yesterday.

February 15, 2024
February 15, 2024

Sugar, palm oil and date prices increase in spite of duty cut

In order to boost supplies and contain prices of essential goods during the month of Ramadan, the government took measures to alleviate the burden on consumers by reducing value added tax and import duties on four commodities -- edible oil, sugar, dates and rice on February 8.

February 6, 2024
February 6, 2024

Steel products get costlier as customs hikes assessment value

The prices of all types of steel products have gone up by Tk 5,000 to Tk 15,000 per tonne within the span of a week after the customs department increased the assessment value by a large margin, traders said.

January 21, 2024
January 21, 2024

Essentials in Ramadan: Dollar crisis, hoarding jack up prices

With Ramadan less than two months away, the prices of chickpeas, dried peas, dates, and soybean oil have increased in Dhaka and Chattogram.

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