The government has set an ambitious target of setting up 100 economic zones in the next 15 years, says the finance minister in his budget speech today.
The government finally takes initiative to develop a bond market in the country.
The government finally takes initiative to develop a bond market in the country.
The government proposes to withdraw value added tax (VAT) on a number of products and services to encourage local industries grow further.
Private cars and sport utility vehicles (SUV) will be cheaper, especially the vehicles with engine capacity of above 1,500 CC, while new hybrid cars will be costlier, according to the budgetary proposals.
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Everyday essentials have remained expensive for the last one year due to high inflation and the government's little control over local trade cartels whereas international markets have been relatively stable for quite a long time.
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The proposed budget has no clear outlines on creation of new jobs in local and overseas markets.
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The finance minister did not outline any clear guideline and specific allocation for ICT sector in his budget proposal.
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Gold price may go up as the finance minister has proposed an increase in its import duty from Tk 150 to Tk 3,000 for each tola (11.664 gram).
...The finance minister has proposed a Tk 2,503-crore raise in allocation for the Local Government Division (LGD) for 2014-15 fiscal emphasising the need for reorganisation and decentralisation of the local government.
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House rent over Tk 25,000 will have to be transacted through banks in the next fiscal year, the finance minister proposed today.
"It is essential to bring transparency in the process of house rent collection in order to widen tax net and deter tax evasion," AMA Muhith said today while placing his budget proposal speech before the parliament.
Amendments to the Income Tax Law will be made to define house rent as both rent and service charges, he said.
"It will ensure payment of monthly house rent amounting more than Tk 25,000 through banks," Muhith added.
