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.
5% advance tax on gold import goes
The government is set to withdraw a 5 per cent advance tax on the import of gold in the fiscal year of 2022-23 to encourage the import of the precious metal through formal channels and discourage smuggling.
Import duty cuts on wheat gluten, sugarcane molasses
Finance Minister AHM Mustafa Kamal has proposed reducing the import duty on wheat gluten and sugarcane molasses to ensure supply of protein and dietary sugars at a lower price, thereby reducing production costs of the livestock industry.
Tk 26,066 crore proposed for energy sector
The Ministry of Power, Energy and Mineral Resources has received Tk 26,066 crore allocation in the proposed budget for FY 2022-23, which is Tk 1,418 crore less than the allocation in the current fiscal year.
Education budget only 1.83% of GDP
The allocation for the education sectors in the proposed budget for the upcoming fiscal year of 2022-23 has reduced in terms of the Gross Domestic Product (GDP).
Tech giants must submit income tax returns
Tech giants such as Google or Meta (Facebook) will have to submit income tax returns from next fiscal year.
Textile sector’s 15% tax to stay
The government has proposed retaining the existing 15 percent tax rate for the textile sector until June 30, 2025 to facilitate the growth of the country's textile and garment sector.
Tk 16,000 crore subsidy for fertiliser proposed
The government is going to increase the subsidy by big margin for fertilisers in the next fiscal year (2022-23) due to the sharp rise in its price in the global markets.
Nothing new for health sector, gets 5.4% allocation
There is nothing new for the already ill-equipped health sector in the National Budget 2022-2023. Finance Minister AHM Mustafa Kamal placed the 51st national budget today where he earmarked around Tk 36,864 crore or 5.4 percent of the total budget.
Laptop prices set to increase
Laptop prices are set to increase, after Finance Minister AHM Mustafa Kamal proposed to impose a 15 percent value added tax (VAT) on imported laptops in the proposed budget for the next fiscal year 2022-23.
Turnover tax for start-ups to be slashed
The government today proposed cutting the turnover tax for start-ups to 0.1 per cent from the current 0.6 per cent in the next fiscal year.