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.
2% incentive in remittance
The government proposes an incentive of two percent on money remitted by expatriate Bangladeshi to encourage bringing in foreign remittance through legal channels.
Tax-free dividend ceiling to rise to Tk 50,000
Finance Minister AHM Mustafa Kamal proposes to rise tax-free dividend income to TK 50,000 which is now Tk 25,000.
Spending in education to rise
The government proposes raising allocation in the education sector by 17 percent to Tk 61,118 crore in the budget for the next fiscal year compared to the revised allocation in the outgoing fiscal year.
Tk 50cr for scientific research
The finance minister proposes allocation of Tk 50 crore for scientific research and development in the country.
Investment amnesty proposed for black money
Bangladesh government is yet again giving scope to whiten black money, subjected to investment for the grooming of industrial sector.
Finance minister unwell; PM presents remaining budget speech
As Finance Minister AHM Mustafa Kamal has been feeling unwell, Prime Minister Sheikh Hasina took on the task of presenting the remainder of the budget speech at the national parliament.
No hike in income tax, plan to widen collection
With a plan to collect more tax, Finance Minister AHM Mustafa Kamal proposes not to increase the tax rate.
Tk 100cr for people displaced by river erosion
Finance Minister AHM Mustafa Kamal proposes allocation of Tk 100 crore to facilitate rehabilitation of the people affected by river erosion.
Mobile phone use cost to increase 5 per cent
Mobile phone users are going to face higher bills for usage as supplementary duty proposed to make double as 10 per cent from its existing 5 per cent in the proposed budget.
Power, energy get Tk 28,051cr
Finance Minister AHM Mustafa Kamal proposes to allocate Tk 28,051 crore for the power and energy sector in the new fiscal year, up by 5.84 per cent from Tk 26,502 crore in 2018-19.