Budget 2022-23
Govt can save up to Tk 5,500cr with austerity measures: Finance Ministry
The government can expect to save up to Tk 5,500 crore for the austerity measures taken so far to preserve the foreign exchange reserves and tame inflation, according to the finance ministry.
IBFB criticises move to give amnesty to black money
The regular taxpayers will feel discouraged if there remains an option to whiten money by paying only 7 per cent tax, said Humayun Rashid, president of IBFB.
Laundered money: Kamal takes flak in JS for amnesty
Lawmakers of both the ruling and the opposition parties heavily criticised Finance Minister AHM Mustafa Kamal yesterday for his budget proposal of legalising laundered money for a 7 percent tax.
‘Ensure simple tax measures to attract FDI’
Simplification of tax administration and proper infrastructure development are needed to attract more foreign direct investment (FDI) in Bangladesh, analysts said in a roundtable today.
Achieving budget will be challenging, not impossible: ICMAB
Achieving the huge proposed budget for fiscal year 2022-23 in the post-pandemic period is a huge challenge for the government but it is not impossible, said Md Mamunur Rashid, president of the Institute of Cost and Management Accountants of Bangladesh (ICMAB).
‘Budget cautious, but should reconsider amnesty to black money’
The former Bangladesh Bank governor also stressed the need for cutting unnecessary spending and allocating more for social safety, education and health.
Proposed taxes, reforms praiseworthy: ICAB
The government has made a timely proposal to impose 12 per cent tax on general industries and 10 per cent on green industries, the Institute of Chartered Accountants of Bangladesh (ICAB) said today.
Proposed budget didn't reflect IT industry's demand: BASIS
The top IT trade body Bangladesh Association of Software and Information Services (BASIS) today said the proposed budget did not reflect the industry’s demands for the development of the sector.
Cup of coffee will cost you more
Coffee prices may rise as the finance minister today proposed imposing 20 per cent supplementary duty on processed and ready-to-consume coffee.
ICT Division get increased allocation of Tk 274 crore
According to the budget for the fiscal year 2022-23, it has been proposed that Tk 1,917 crore will be allocated for the ICT Division.
Importing aircraft to become cheaper
Finance Minister AHM Mustafa Kamal has proposed advance tax exemption for aircraft imports by registered companies in the proposed budget for the fiscal year 2022-23.
Tourism industry gets Tk 1,000 crore incentive
The government has declared an incentive package of Tk 1,000 crore for the tourism industry to help it revive from the brunt of the protracted Covid-induced pandemic and the current uncertainty.
Disability allowance to go up to Tk 850
The government is going to increase the number of beneficiaries of disability allowance and their allowance amount.
Tk 5,000 crore fund to manage shocks of natural disasters
Finance Minister AHM Mustafa Kamal today proposed allocating Tk 5,000 crore as the ‘Fund for managing the shocks of natural disasters’ in the upcoming 2022-23 fiscal year.
Corporate tax rates slashed
The government has proposed to cut the tax rate for one-person companies (OPCs) from 25 per cent to 22.5 per cent in order to attract investment in the private sector.
Broadband likely to be more expensive
A 10 percent supplementary duty on the import of optical fiber cable has been proposed in the new budget for FY 22-23. Md Imdadul Hoque, President of Internet Service Providers Association of Bangladesh (ISPAB), says that the increased taxation on optical fiber import will increase the price of broadband internet in the country.
Capital machinery duty to remain unchanged for small industries
The government proposed keeping the import duty for capital machinery unchanged at 1 per cent for the small and medium industries to give a boost to the sector.
How will the prices of consumer electronics fare up?
While most consumer electronic products will see an increase in their prices, a few consumer electronics are expected to have reduced prices after the proposed budget for the fiscal year 2022-2023.