Tax & Customs
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.
Alternatives to cash incentives planned for exports
The government plans a new export promotion fund as an alternative to direct cash incentives for export-oriented sectors to help the country face challenges resulting from its graduation to a developing nation in 2026.
FBCCI's plea for tariff protection devoid of reality
On April 4, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urged the government to pay attention to ensuring reasonable protection from customs tariffs for the sake of employment and promoting domestic industries, services and small and medium enterprises.
Tax on provident funds' income: One country, dual policy
A provision in the Income Tax Act 2023 created the discrimination
NBR grants tax benefits to 3 sectors
The government has provided tax benefits to three sectors, namely leather, asset management, and research, to boost competitiveness and foreign currency earnings.
Massive reforms needed in tax laws: experts
Massive reforms are required in tax and VAT laws to mobilise domestic resources and achieve the government’s target to become a developed country by 2041, according to experts.
BCI demands 5-year tax holiday for small businesses
The Bangladesh Chamber of Industries (BCI) yesterday demanded a five-year tax holiday for cottage, micro and small and medium enterprises (CMSMEs) beginning from fiscal year 2024-25 in order to foster their growth.
Insurers seek tax, VAT breaks in next budget
The Bangladesh Insurance Association (BIA), a platform for insurance companies, has proposed withdrawal of the VAT applicable to policyholders in order to help the health insurance sector expand.
Income tax lawyers protest draft rule
Dhaka Taxes Bar Association staged a demonstration and besieged the National Board of Revenue (NBR) building at Agargaon in Dhaka for a couple of hours yesterday demanding cancellation of a newly announced draft tax return preparer (TRP) rule.
Tax rebate scope for investment in mutual funds narrows
The draft Income Tax Bill 2023 has delivered bad news for big investors of mutual funds though it has retained all benefits for stock investors, including the capital gains tax.
‘We did not frame budget in line with IMF prescriptions’
The government has not framed the national budget for the fiscal year of 2023-24 based on the prescription of the International Monetary Fund (IMF), said Finance Minister AHM Mustafa Kamal today.
VAT on sweets may be cut
The National Board of Revenue (NBR) could cut value-added tax (VAT) on sweets by half to 7.5 per cent, according to officials of the finance ministry.
Tax return filing deadline extended for companies
Those who sought time extension will only get the opportunity
E-payment made mandatory for taxes
The National Board of Revenue issues a notification on March 23
Tax collection growth slows further
The National Board of Revenue (NBR) registered a further slowdown in the growth of tax collection, making it harder for the agency to achieve its target for the current fiscal year of 2022-23 ending in June.
Language of tax laws attacking to some extent: NBR chairman
The tax forms need to simplified too, says Abu Hena Md Rahmatul Muneem
Separate tax policy making from collection
Top business leaders yesterday urged the National Board of Revenue (NBR) to ensure a conducive business climate by bringing reforms to the revenue sector, including having separate administrations formulating tax policies and collecting revenue.
