Tax and Customs

Tax and Customs

e-filing of tax returns crosses 50,000 in less than a month

The NBR relaunched the e-filing portal on Sep 9

1w ago

NBR forms taskforce to reform income tax law

Tax Commissioner Ikhtiar Uddin is heading the seven-member task force

1w ago

Onion imports resume thru Hili land port

Onion imports through Hili land port in Dinajpur resumed on Tuesday after being halted for four days due to a software glitch in Indian customs..The Indian customs had implemented an updated tariff regime at 4:45pm that day, reducing the export duty on onions from 40 percent to 20 percent.

3w ago

Revenue target for FY25 to be left unchanged

The interim government will not bring down the revenue collection target for the current fiscal year as it aims to mobilise more domestic resources to reduce reliance on foreign loans, according to Finance and Commerce Adviser Salehuddin Ahmed.

1m ago

Abdur Rahman Khan made new NBR chairman

The government today appointed Abdur Rahman Khan as the chairman of the National Board of Revenue (NBR) by cancelling the contractual appointment of Abu Hena Md Rahmatul Muneem

2m ago

VAT claims against S Alam firms: Govt submits replies to HC rules

The government today submitted before the High Court replies to the rules which questioned the legality of its demand for unpaid VAT and the consequent fines of over Tk 7,000 crore from S Alam Vegetable Oil Ltd and S Alam Super Edible Oil Ltd

3m ago

HC questions govt demands of unpaid VAT from S Alam companies

The High Court today questioned the legality of government's demand for unpaid VAT and the consequent fines of over Tk 7,000 crore from S Alam Vegetable Oil Ltd and S Alam Super Edible Oil Ltd

3m ago

Container of cigarettes seized in Ctg

Chattogram Custom House and Customs Intelligence seized a container of cigarettes on Thursday midnight, which was imported under false declaration

3m ago

Achieving $110b export target by FY27 is difficult

The government’s target of earning $110 billion from exports by the fiscal year of 2026-27 would be difficult to attain because of the persisting challenges in the global and local economies, economists and businesspeople said.

4m ago

Online tax returns can bring $32b extra revenues annually: CPD

Bangladesh can raise an additional $32.6 billion in revenues annually within the next four years if the electronic filing of tax returns can be ensured, said the Centre for Policy Dialogue (CPD) yesterday.

4m ago

Govt brings down ADP for a lack of fund

The government is currently faced with a lack of funds, evidenced by a reduction in allocations it provided from the exchequer for the upcoming Annual Development Programme (ADP), said Fahmida Khatun, executive director of the Centre for Policy Dialogue.

5m ago

Cash subsidy for exports surges. Only garment yields expected results

The government’s cash incentive against export receipts has soared over the years although many sectors could not make their mark in the global market, bringing in limited results for the government’s diversification initiative.

5m ago

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.

5m ago

Bangladesh expands offshore banking in hunt for forex

Offshore banking is increasingly becoming a key window for banks in Bangladesh to facilitate investments and international trade by attracting deposits in foreign currencies.

5m ago

Hike tax on cigarettes to boost revenue collection

The tax on cigarettes in Bangladesh should be raised in the national budget for fiscal 2024-25 to boost the country’s revenue generation and minimise health risks, according to experts.

5m ago

Five ICT trade bodies demand tax exemption until 2031

Five associations representing the ICT sector yesterday demanded that the government extend tax exemptions on businesses offering software and IT-enabled service (ITES) till 2031, saying their development was crucial to the government’s vision for a Smart Bangladesh.

6m ago

Metro rail commute to get costlier as NBR declines to extend VAT exemption

Metro rail commuters are expected to be required to pay 15% VAT on their ticket fares from July 1 as the National Board of Revenue (NBR) plans to discontinue the exemption.

6m ago

Tax on provident funds' income: One country, dual policy

A provision in the Income Tax Act 2023 created the discrimination

6m ago