Most of the cargo that arrived from Karachi contained industrial raw materials, including soda ash, dolomite, limestone, chemicals, onion, fabrics and potatoes
On May 20, 2024, Chattogram Custom House Deputy Commissioner Mohammad Zakaria was in Kolkata, India, where he had gone for treatment a week earlier.
An inability to open letters of credit (LCs) since the political changeover on August 5 has resulted in the closure of at least seven enterprises owned by the S Alam Group, including its sugar and edible oil refineries and steel factory.
At least six tax officials, including the then tax commissioner, were involved in extending undue favour to two sons of controversial businessman Mohammed Saiful Alam to legalise undisclosed money worth Tk 500 crore, an investigation by the tax intelligence has found.
The Tejgaon Egg Merchants’ Association, which delivers about 15 percent of the daily supply of 1 crore eggs in the capital, stopped sales from Sunday night claiming it was to avoid harassment by the government authorities.
Ten companies of S Alam Group have been ordered to pay Tk 1,414 crore of unpaid value-added tax (VAT) they allegedly “evaded” in the past two years.
The prices of rice, eggs, broiler chicken, soybean oil, palm oil, sugar and vegetables have increased significantly in Dhaka due to a supply shortage and incessant rain.
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.
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.
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.
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.
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.
It also instructs banks to freeze the Group's bank accounts
Five companies are enjoying an oligopoly in the sugar market, which was worth more than Tk 9,000 crore in fiscal year 2022-23, as they have expanded their refining capacities to meet increasing demand.
Data from the National Board of Revenue (NBR) shows that nearly 25.7 lakh tonnes of soybean and palm oil were imported in 2023, with the four companies accounting for 80 percent of the total amount.
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.
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.
