Tax and Customs

Tax and Customs

Panel formed to make tax expenditure policy

The National Board of Revenue (NBR) yesterday formed a nine-member committee to make a policy framework for tax expenditure.

1d ago

Tax cuts yield limited impact on rising commodity prices: NBR chairman

Egg, sugar prices became cheaper to some extent, not other commodities, he says

1w ago

Electronic filing of tax return doubles since July

Over 5 lakh submitted e-returns since July 1 to November 24

3w ago

Most SMEs cite tax structure as main barrier

Around 57 percent of surveyed small and medium enterprises (SMEs) cited the existing tax structure as the main obstacle to doing business in compliance with the law, according to a report by the SME Foundation

3w ago

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.

1m ago

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

The NBR relaunched the e-filing portal on Sep 9

2m ago

NBR forms taskforce to reform income tax law

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

2m 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.

3m ago

New Customs Act 2023 to come into effect on June 6

A new Customs Act 2023 will come into effect from June 6 this year aiming to enhance fiscal discipline, accountability in import revenue collection and trade facilitation

6m ago

Shipping cost keeps upward trend as Red Sea Crisis lingers

Shafiur Rahman, regional operations manager of G-Star in Bangladesh, needs to send 6,146 pieces of denim trousers weighing 4,404 kilogrammes from a Gazipur-based garment factory to Amsterdam of the Netherlands.

7m ago

Laptops may be cheaper in FY2025

The government is planning to reduce duties on imported laptops next fiscal year in order to make the devices more affordable and bring relief to freelancers and students.

7m ago

C&F staff halt work at 4 container depots

Staffers of clearing and forwarding (C&F) agents stopped working at four leading inland container depots (ICDs) in the port city since the early hours today following a dispute with customs officials, which eventually led to a clash between C&F staff and staff of an ICD

7m ago

How GP makes more money than Robi

The profit margin of Grameenphone Ltd was around seven times more than that of Robi Axiata Ltd in 2023.

7m 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.

7m 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.

7m 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.

7m 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.

7m 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.

7m ago