Bangladesh National Budget 2019-20
Tk 5,23,190cr budget passed in JS
Parliament passes the Tk 5,23,190 crore national budget for 2019-20 fiscal themed as “Bangladesh on a Pathway to Prosperity: Time is Ours, Time for Bangladesh.”
NBR to lose Tk 400cr for pampering tobacco companies
The National Board of Revenue’s move to change the VAT and Supplementary Duty Act 2012 to offer input tax credit to cigarette
New VAT system to bring in Tk 11,000cr more
The National Board of Revenue expects to collect about Tk 11,000 crore more for imposition of VAT on various goods and services and increasing rates on many others, said its officials.
Textile millers seek exemption of 5% VAT on sale of local yarn
Textile millers demand an exemption of 5 per cent value added tax (VAT) on sale of local yarn to make the domestic yarn market more competitive.
Budget Discussion: Opposition slams govt over paddy price
Opposition lawmakers yesterday came down heavily on the government for its failure to ensure fair price of paddy and check money laundering, soaring loan defaults and black money.
New VAT law to hurt consumers: Analysts
The government’s move to implement the new VAT law without rebate facility for reduced rates will hurt consumers because of price spike of many goods and services, analysts say.
Budget anti-people: Gonoforum
Gonoforum rejects the proposed national budget for 2019-20 fiscal terming it as frustrating and anti-people.
Manage deficit financing from other sources rather than banking channel
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urges the government to manage fund from other sources rather than banking channel to finance the deficit financing in 2019-20 fiscal.
The affluent to benefit more
The budgetary measures for fiscal 2019-20 will favour the beneficiaries of “economic misrule” and hurt the middle and lower mid-income groups, the Centre for Policy Dialogue said yesterday.
Prices up, prices down
Finance Minister AHM Mustafa Kamal proposes changes to duties on different products, which will result in increase and decrease in their prices.
Tax office in every upazila
Finance Minister AHM Mustafa Kamal says tax offices will be set up in every upazila of the country.
Kamal vows to raise tax-GDP ratio to 15pc in 2yrs
Finance Minister AHM Mustafa Kamal has vowed to raise the tax-GDP ratio to 15 percent in two years from present 10 percent, a move that needs a lot of efforts and investments from the government to achieve.
Smartphone import to be costlier
Import of smartphones will be costlier as supplementary duty is proposed to be raised by two and half times to 25 per cent from its existing 10 per cent in the proposed budget.
Govt employees under insurance coverage
The government will bring all of its employees under insurance coverage, says Finance Minister AHM Mustafa Kamal in his budget speech.
Govt plans pension scheme for all
The budget for fiscal 2019-20 includes plan for pension for all. Pension for all employed citizens in both formal and informal sectors will be ensured gradually, says the budget proposal placed at parliament.
15% tax on stock dividend, retained earnings
Fifteen per cent tax has been imposed on stock dividend distributed to the shareholders by any listed company in the proposed budget for fiscal 2019-20.
10% supplementary duty on issuance of vehicle registration
Finance Minister AHM Mustafa Kamal proposed 10 per cent supplementary duty on issuance or renewal of all kinds of vehicles registration, route permit, fitness certificates, ownership certificate.
Govt plans to modernise ACC to curb graft
Bangladesh government is planning to modernise the Anti-Corruption Commission (ACC) in order to curb corruption in the country.
0.1pc surcharge for wealth over Tk 50cr
Finance Minister AHM Mustafa Kamal proposes that an individual taxpayer having a net wealth of Tk 50 crore or above shall pay higher of 0.1 per cent of net wealth or 30 per cent of his income tax payable as surcharge.