National Budget 2019-20
NGO’s want more budget for the disabled
A group of non-government organisations have called upon the government to reconsider the budgetary allocation for people with disabilities.
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 will push up living cost
The new VAT law may increase cost of many goods and services and hurt consumers, analysts said yesterday.
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.
New budget to increase inequality
Terming the proposed national budget “highly ambitious”, the BNP yesterday said the people of the country would not accept the budget as it would increase inequality.
Make new VAT law business-friendly
Leading business associations yesterday urged the government to ensure easy, hassle-free and business-friendly implementation of the new VAT law.
Pay more for digital delight
At a time when the government should be encouraging virtual businesses, Finance Minister AHM Mustafa Kamal has proposed 7.5 percent value-added tax on them in his budget for fiscal 2019-20, making their services dearer.
TIB slams amnesty for black money
Transparency International Bangladesh (TIB) yesterday strongly condemned the proposed amnesty for black money in the budget for fiscal 2019-20 and termed it “unconstitutional, immoral and discriminatory”.
THE BIG FOUR
THE BIG FOUR
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.
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.
RMG sector gets highest 5% cash incentive
Dominating export sector, the readymade garments industry is getting a highest cash incentive of 5 per cent in the budget for fiscal 2019-20.