National Budget 2020-21
MCCI, DCCI, BUILD demand review in 7 areas of proposed budget for FY 2020-21
Leaders of three leading business chambers demand deletion of certain proposed new provisions in the VAT Act 2012 and Income Tax Ordinance 1984 in order to maintain a business-friendly tax regime in light of the Covid-19 induced economic situation.
JS passes Tk 46,516.11 crore supplementary budget for FY 2019-20
The Jatiya Sangsad today passed the supplementary budget of Tk 46,516.11 crore for the 2019-20 fiscal year to meet additional expenditures under different ministries and departments in the outgoing fiscal year.
Whitening black money now more lucrative than ever
With the opportunity offered to money launderers by the government to whiten black money failing to draw a significant response, the new budget has made a new, lucrative proposition -- invest the money and no one, not even the income tax authority, will be able to question its source.
People’s lives, livelihoods ignored in budget: says Amir Khashru
BNP Standing Committee Member Amir Khasru Mahmud Chowdhury says that people’s lives and livelihoods had been ignored in the proposed national budget for the 2020-21 fiscal year.
Government mulls 50 percent penalty to prevent laundered money
Finance Minister AHM Mustafa Kamal has proposed imposing a 50 percent penalty on misdeclaration of exports, imports and investments in overseas countries as the government aims to increase tax revenue and prevent money laundering, according to the budget proposal for fiscal year 2020-21.
All aren’t equal to government
Protected and unprotected: an oblique line of the government’s preference separated the two.
No talk on crisis in mega projects during budget session
Despite major projects in transport sector being either halted or delayed due to the coronavirus outbreak, no course of action was chalked out during the budget session today on the projects.
Budget 2020-21: Middle class left out as always
Save for a slash in the income tax, there is no respite in this year’s budget for penny-pinching middle class families.
RMG export: 1pc additional cash incentive to continue, source tax hiked to 0.5pc
Finance Minister AHM Mustafa Kamal has proposed continuation of 1 percent additional cash incentive for the country’s garment export in 2020-21 fiscal year too, considering the economic fallout from Covid-19 pandemic.
Mobile phone users to pay more
Mobile phone users will have to pay higher bills as supplementary duty is set to increase to 15 percent from the existing 10 percent in the proposed budget for fiscal year 2020-21.
Tk 95,574 crore allocated for social safety net programmes
The government has allocated Tk 95,574 crore in the social safety net programmes, which is 16.83 percent of total budget and 3.01 percent of GDP in FY 2020-21. In last year’s revised budget, the allocation was Tk. 81,865 crore.
Budget for coronavirus-battered education sector unchanged
The allocation for the education sector in the proposed budget for the upcoming fiscal year of 2020-21 remains almost unchanged in terms of size and percentage of Gross Domestic Product (GDP), compared to the current budget.