Housing and Public Works Minister Engr Mosharraf Hossain suggests cutting down customs duty on liquor for the sake of flourishing tourism in the country.
No VAT or tax has been imposed on remittance in the proposed budget for 2018-19 fiscal year, the National Board of Revenue (NBR) says.
Opposition MPs continue their scathing attacks on Finance Minister AMA Muhith in Parliament for his 'failure' to restore discipline in the banking sector.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) demands stern punishment for the people involved in in misappropriating money from the country's banks.
The proposed budgetary measures for fiscal 2018-19 will benefit the high and low income people, leaving the middle- and lower middle-class, which form the majority of Bangladesh's population, strained, said the Centre for Policy Dialogue yesterday.
Leading chambers and trade bodies yesterday criticised the government's 2.5 percent corporate tax cut proposal for only banks and financial institutions in fiscal 2018-19, saying the move would not bring in the desired private or foreign investments.
Online shopping will be excluded from the purview of 5 percent value added tax (VAT) that was proposed on virtual businesses in the budget for FY 2018-19.
Every year when the budget is placed in the parliament, Taufiq Hasan, a 35-year-old private sector employee, gets all worked up about which products and services he would have to pay more the following fiscal year.
The government is continuing to treat banks with kid gloves instead of going tough on them for the rampant financial irregularities and continued poor judgement.
Citing the government's commitment to ensure a 'Digital Bangladesh', Finance Minister AMA Muhith says that 8,000 km of optical fibre cables have been installed in 1104 union parishads of 114 upazilas in 64 districts.
Government is planning to impose 5 percent value added tax on the ride-sharing services which will make the new kind of transporting system in big cities of the country costlier.
Finance Minister AMA Muhith proposes introduction of new provisions in the tax laws over the taxation of virtual and digital sectors, such as Facebook, Google, Youtube, on their incomes earned in Bangladesh.
Terming the proposed budget “traditional”, Raushon Ershad, leader of the opposition in the parliament, says there is nothing new in it.
The government allocates Tk 1,498 crore for the Youth and Sports Ministry in the proposed budget for fiscal year 2018-19, Tk 307 crore up from the revised budget of the last fiscal year.
The government proposes raising allocation in the education sector by 11 percent to Tk 53,054 crore for the next fiscal year compared to the revised allocation in the outgoing fiscal year.
Energy drink and cigarette-bidi papers prices are expected to go up with the additional supplementary duty proposed in the budget for fiscal 2018-19.
Imported mobile phone handsets will be costlier as Finance Minister AMA Muhith proposes to increase 1 percentage point surcharge in his budget speech for fiscal 2018-19.
Finance Minister AMA Muhith proposes to allocate Tk 400 crore in 2018-19 fiscal to support insolvent war-wounded and sick freedom-fighters or their spouses, children or grand-children.
Finance Minister AMA Muhith proposes to borrow Tk 42,029 crore from the banking sources to manage the deficit financing.
