Bangladesh Budget 2023-24
Flats, houses to be costlier
Flats and houses will become expensive as the government has increased the duties on basic construction materials such as cement, steel and tiles in the proposed budget, said a top executive of a real estate company.
Tax return for credit card to bar financial inclusion
The tax on digital payments tools should be reduced and incentives should be given to encourage electronic payments in a bid to transform the country into a cashless society, said Syed Mohammad Kamal, country manager of Mastercard.
'Cut ADP allocation to contain inflation'
The government should adjust the budget expenses by cutting the allocation under the Annual Development Programme (ADP) and bringing down operating costs in order to contain inflation, said Ahsan H Mansur, executive director of the Policy Research Institute.
National Budget 2023-24: Of sweet accounting and sour economics
If we choose only 10 commodities and measure inflation, the figure will land at no less than 20 percent.
Benefit extension for consumer electronics ‘encouraging’
The extension of existing benefits for local consumer electronics industries through the proposed national budget is very encouraging, said Golam Murshed, managing director and chief executive officer of Walton Hi-Tech Industries, yesterday.
Focus on developing waterways in budget
The government’s budget should focus on developing inland waterways with a view to cutting goods transportation costs and reducing pressure on roadways, said the top executive of a logistics and container terminal operations management company.
Bangladesh’s budget deficit in FY24 could be at risk: Fitch Ratings
Bangladesh’s budget deficit forecasted by the government for the next fiscal year could be at risk if the growth undershoots the authorities’ relatively optimistic target, said Fitch Ratings.
Reining in inflation top priority
The government is going to unveil a Tk 7,61,785 crore budget for the next fiscal year on Thursday, setting containment of high inflation as a major target.
NBR to engage agents to help people file tax returns
The tax authority, for the first time, is going to engage individuals to help new taxpayers file tax return in a bid to increase compliance and narrow the gap between registered taxpayers and regular return filers.
Surcharge likely on second car
Owners of more than one car are likely to face an environmental protection surcharge from the upcoming fiscal year as the government plans to discourage the use of vehicles in a bid to contain carbon emissions and air pollution.
‘Corporate tax cut of FY23 was good, but conditions didn’t help’
The reduction of tax payable by companies by 2.5 percentage points at the beginning of this fiscal year of 2022-23 was a good move but a precondition on limiting cash transactions has not helped businesses reap the benefit.
FY23 budget was a disappointment
The national budget for the current fiscal year has been a disappointment as it did not address the macroeconomic crisis emanating from the joint impacts of global inflationary pressure and Russia’s invasion of Ukraine.
Take steps to roll out universal pension scheme
The government should take specific steps through the upcoming national budget for 2022-23 to roll out a universal pension scheme, said an economist.
Fiscal policy barely prioritises macroeconomic stability
The fiscal policy for the ongoing fiscal year has shied away from prioritising macroeconomic stability although several key indicators have come under serious stress owing to internal and external factors, said a noted economist.
Hike property tax to curb accumulation of wealth, inequality
An increase in property tax is needed to curb rapid wealth accumulation and rising inequality as the rate in Bangladesh is one of the lowest in the world, said the Centre for Policy Dialogue (CPD) and analysts yesterday.
Progressive tax a remedy for inequality
Progressive taxation on high-income people can work well to reduce the income inequality that has been deepening in Bangladesh for years, analysts said yesterday.
VAT on sweets may be cut
The National Board of Revenue (NBR) could cut value-added tax (VAT) on sweets by half to 7.5 per cent, according to officials of the finance ministry.