Tax & Customs
Special arrangements in Nov to help file tax returns
Instead of holding an income tax fair, the National Board of Revenue (NBR) says it will have dedicated officials and special arrangements at field-level offices to extend tax services and facilitate return submissions throughout November.
e-filing of tax returns crosses 50,000 in less than a month
The NBR relaunched the e-filing portal on Sep 9
NBR forms taskforce to reform income tax law
Tax Commissioner Ikhtiar Uddin is heading the seven-member task force
NBR asks officials to come to office on time
The National Board of Revenue (NBR) has asked the officials of its income tax wing to be at office ahead of the 9:00am reporting time.
Finance adviser urges NBR to reconsider duty structure
Finance and Commerce Adviser Salehuddin Ahmed yesterday asked the National Board of Revenue (NBR) officials to reconsider the duty structure of imported essential commodities in a bid to tackle persistent inflation..The adviser said essential commodities, namely edible oil, sugar, potato a
Waive port charges incurred amid recent unrest
The Bangladesh Shipping Agents’ Association (BSAA) has urged the government to waive all port charges incurred for delays in container handling amid the weeklong unrest, internet outage and stringent curfew that began on July 18..The BSAA, the country’s sole trade body for shipping agents,
Kaus Mia: a role model in a nation where tax noncompliance is rife
The late successful businessman had been one of the highest taxpayers in Bangladesh since 2010-11
NBR plans self-assessment of tax liabilities for all firms
The National Board of Revenue (NBR) is likely to introduce self-assessment for companies from 2024-25 to allow them to determine their own tax liabilities and cut reliance on taxmen.
Companies’ accounting software: NBR move seeking user ID, password irks businesses
A move by the National Board of Revenue asking for sharing the user identification and password of companies’ accounting software has created concerns among businesses, which said such a measure would give negative signals about the business climate in Bangladesh and discourage investors.
Revenue collection crosses Tk 3 lakh crore for first time
Revenue collection grew 15.51 per cent year-on-year to Tk 300,179 crore in the just-concluded fiscal year of 2021-22, according to the provisional data of the National Board of Revenue (NBR).
Rolls-Royce importer’s bond licence suspended
Chattogram Customs Bond Commissionerate has suspended the general bond licence of Z&Z Intimates which has recently been accused by customs intelligence of getting an imported Rolls-Royce worth Tk 27 crore released bypassing assessments.
NBR extends VAT cut for edible oil imports
The National Board of Revenue (NBR) yesterday extended the opportunity for edible oil refiners to import and refine the essential commodity by paying only 5 per cent value added tax (VAT) at the import stage until September 30 this year.
NBR set to miss revenue generation target again
The National Board of Revenue (NBR) reached 76 per cent of its Tk 330,00 crore revenue generation target in the 11 months of 2021-22, meaning it is going to miss the full fiscal-year collection goal once again.
Bangladesh slashes rice import tariffs to 25 percent
Bangladesh has cut customs tariffs and duty on rice until October 31 this year in order to encourage imports to increase supply of the staple grain in the domestic market and cool its prices, according to a notification today (June 23, 2022).
New taxpayers: NBR relaxes rules on spot assessment
The National Board of Revenue (NBR) has broadened and relaxed the rules for bringing new taxpayers under the tax net by assessing their incomes on the spot.
VAT hike to increase production cost for steel makers
The production cost of steel makers in Bangladesh is going to increase as the revenue authority seeks to hike the value-added tax on rod and other steel products by up to 20 per cent, two leading producers said yesterday.
Corporate tax cut: Berger, Marico, United Power may miss benefit
The government has proposed a 2.5 percentage point cut in corporate tax rates for the listed companies in the national budget unveiled for the next fiscal year in a bid to develop the stock market and attract investments.
VAT reduction extended for cylinder makers
The National Board of Revenue (NBR) has extended for another year a value added tax (VAT) reduction for local liquefied petroleum gas (LPG) cylinder manufacturers, who believe it would help keep fuel prices low against rising demand.