National budget FY 22-23
Budget stuck in vicious cycle of non-implementation
The government is likely to fail to implement its national budget fully in the ongoing fiscal year owing to policymakers’ over-optimism and a lack of capacity of public agencies.
Wheelchair, hearing aid to be cheaper
The prices of specialised wheelchair for the physically challenged may fall in the next fiscal year as the finance minister today proposed abolishing all kinds of taxes at the import stage of the item.
Broadband likely to be more expensive
A 10 percent supplementary duty on the import of optical fiber cable has been proposed in the new budget for FY 22-23. Md Imdadul Hoque, President of Internet Service Providers Association of Bangladesh (ISPAB), says that the increased taxation on optical fiber import will increase the price of broadband internet in the country.
How will the prices of consumer electronics fare up?
While most consumer electronic products will see an increase in their prices, a few consumer electronics are expected to have reduced prices after the proposed budget for the fiscal year 2022-2023.
5% advance tax on gold import goes
The government is set to withdraw a 5 per cent advance tax on the import of gold in the fiscal year of 2022-23 to encourage the import of the precious metal through formal channels and discourage smuggling.
Education budget only 1.83% of GDP
The allocation for the education sectors in the proposed budget for the upcoming fiscal year of 2022-23 has reduced in terms of the Gross Domestic Product (GDP).
Tech giants must submit income tax returns
Tech giants such as Google or Meta (Facebook) will have to submit income tax returns from next fiscal year.
Laptop prices set to increase
Laptop prices are set to increase, after Finance Minister AHM Mustafa Kamal proposed to impose a 15 percent value added tax (VAT) on imported laptops in the proposed budget for the next fiscal year 2022-23.
Cars, motorcycles to cost more
In the proposed budget for the fiscal year 2022-23, the supplementary duty has been increased for motor vehicles. This may increase the prices of cars and motorcycles.
Budget stuck in vicious cycle of non-implementation
The government is likely to fail to implement its national budget fully in the ongoing fiscal year owing to policymakers’ over-optimism and a lack of capacity of public agencies.
Wheelchair, hearing aid to be cheaper
The prices of specialised wheelchair for the physically challenged may fall in the next fiscal year as the finance minister today proposed abolishing all kinds of taxes at the import stage of the item.
Broadband likely to be more expensive
A 10 percent supplementary duty on the import of optical fiber cable has been proposed in the new budget for FY 22-23. Md Imdadul Hoque, President of Internet Service Providers Association of Bangladesh (ISPAB), says that the increased taxation on optical fiber import will increase the price of broadband internet in the country.
How will the prices of consumer electronics fare up?
While most consumer electronic products will see an increase in their prices, a few consumer electronics are expected to have reduced prices after the proposed budget for the fiscal year 2022-2023.
5% advance tax on gold import goes
The government is set to withdraw a 5 per cent advance tax on the import of gold in the fiscal year of 2022-23 to encourage the import of the precious metal through formal channels and discourage smuggling.
Education budget only 1.83% of GDP
The allocation for the education sectors in the proposed budget for the upcoming fiscal year of 2022-23 has reduced in terms of the Gross Domestic Product (GDP).
Tech giants must submit income tax returns
Tech giants such as Google or Meta (Facebook) will have to submit income tax returns from next fiscal year.
Laptop prices set to increase
Laptop prices are set to increase, after Finance Minister AHM Mustafa Kamal proposed to impose a 15 percent value added tax (VAT) on imported laptops in the proposed budget for the next fiscal year 2022-23.
Cars, motorcycles to cost more
In the proposed budget for the fiscal year 2022-23, the supplementary duty has been increased for motor vehicles. This may increase the prices of cars and motorcycles.
Social safety net allocation to rise 5.5%
Finance Minister AHM Mustafa Kamal today proposed increasing the allocation by 5.5 per cent year-on-year for social safety net programmes carried out by the government.