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.
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.
A provision in the Income Tax Act 2023 created the discrimination
The Supreme Court yesterday asked its High Court Division to hold further hearing on two writ petitions that challenged the NBR orders asking Grameen Kalyan to pay around Tk 600 crore as income tax.
The NBR chairman urged businesses in Rajshahi to reduce their reliance on subsidies as such a tendency contradicts the country’s aspiration to become a developed nation by 2041.
The Appellate Division of the Supreme Court yesterday scrapped a High Court verdict that declared illegal the government orders which imposed 15 percent income tax on private universities and private medical, dental and engineering colleges.
The government is considering further incentives while emphasising ICT and advanced technology in order to increase the production of value-added products as part of preparations for graduation from least developed country (LDC) status, Chairman of the National Board of Revenue (NBR) Abu Hena Md Rahmatul Muneem said yesterday.
The Newspaper Owners' Association of Bangladesh (Noab) places budget proposals to NBR
It comes as the NBR unveiled the names of 141 individuals and companies as the highest taxpayers for the assessment year of 2022-23.
The National Board of Revenue (NBR) has provided exemption to the withholding tax on the interest earnings of foreign lenders who are lending to local firms for three months, according to a notification.
The Daily Star Editor Mahfuz Anam, Prothom Alo Editor Matiur Rahman also on the list
Businesses will have to deposit value-added tax (VAT) of Tk 10 lakh and above through electronic payment or automated chalan from the first day of January next year, the National Board of Revenue (NBR) said yesterday.
The interest rates of loans and deposits in non-bank financial institutions (NBFIs) increased further as the central bank hiked the interest margin by 25 basis points to make money costlier with the aim to curb skyrocketing inflation.
Five made it to the list for consecutive second year
no provision was included for the extension of tax return submissions after the expiration of the set timeframe
The deadline is scheduled to end on Nov 30
An Indian multinational company which took part in the construction of Dhaka’s first elevated metro rail is facing a penalty of Tk 7.03 crore for delaying the filing of income tax return for fiscal year 2019-20.
The visiting mission from the International Monetary Fund was not fully convinced with the plans laid out by the National Board of Revenue on accelerating the tax collection to raise the tax-to GDP ratio by 0.5 percentage points in the current fiscal year.