Bangladesh is one of the nine guest countries of the summit this year
4,621 loan recipients to get the benefit, the finance minister said at the parliament
Self-contradictory is what best describes Finance Minister AHM Mustafa Kamal’s fifth budget, and the last of the Awami League-led government’s current term.
Finance Minister AHM Mustafa Kamal today in his budget speech hoped that the ongoing stress in the foreign exchange reserves would improve in a short period of time.
Finance Minister AHM Mustafa Kamal today proposed formulating rules for authorising tax return preparers (TRPs) in Bangladesh with a view to expanding the tax net by adding more individual taxpayers.
In June last year when Finance Minister AHM Mustafa Kamal placed the budget in parliament, inflation had already been creeping up and the foreign currency reserves were on the decline. These two had derailed the full economic recovery from a two-year crisis wrought by the Covid pandemic.
The top 20 defaulters in the country have a total debt of Tk 19,283.93 crore while the amount of defaulted loans is Tk 16,587.92 crore.
Islami Bank, Social Islami Bank and First Security Islami Bank lent about Tk 9,500 crore under suspicious circumstances, as reported by different media. Of the sum, Tk 7,246 crore has been taken from Islami Bank alone.
The government yesterday sought more loans in concessional terms from the World Bank despite being the largest recipient of such funding as well as more budget support as it looks to shake off the impacts of the pandemic and the Ukraine war.
Former agriculture minister Matia Chowdhury yesterday blasted Finance Minister AHM Mustafa Kamal for his budgetary proposal to increase tax at source on family savings certificate from five percent to 10 percent.
Senior Awami League leader Matia Chowdhury lambastes Finance Minister AHM Mustafa Kamal for increasing tax on family savings certificate from five per cent to 10 per cent in the proposed budget for 2019-20 fiscal.
Finance Minister AHM Mustafa Kamal in his budget speech in the parliament says that the government will avoid issuing statutory regulatory order (SRO) without any abnormal situation to bring transparency in the revenue management.
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.
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.
In a break from the past, Finance Minister AHM Mustafa Kamal will set a more realistic revenue income target in his maiden budget, but may shy away from undertaking some much-needed economic reforms.
The government may once again offer scope for whitening black money through investment in industries to boost private investment, say finance ministry officials.
Finance Minister AHM Mustafa Kamal yesterday reassured taxpayers that there would be no hike in tax rates in the coming budget, rather more people would be brought under the tax net so that it widens.
As of December last year, there were 2,66,118 loan defaulters in the country, Finance Minister AHM Mustafa Kamal informed parliament yesterday.
The government cannot disclose the Farashuddin-led committee's investigation report on Bangladesh Bank reserve heist so that probe by the Criminal Investigation Department is not “influenced”, Finance Minister AHM Mustafa Kamal told parliament last night.
