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Govt not to fail in revenue collection: Finance Minister

Mentioning that the Novel Coronavirus (COVID-19) has impacted the country’s economy like the other countries, Finance Minister AHM Mustafa Kamal yesterday said that the National Board of Revenue (NBR) would not fail in revenue collection if the other economic parameters remain well. “The whole of the world is being affected due

NBR to launch e-payment system

The National Board of Revenue (NBR) is going to launch VAT e-payment system since the business establishments make VAT payments every month alongside submitting their returns and so the business entities would now be able to make VAT payments to the government exchequer directly from their bank accounts through online. VAT e-payment system

Country needs policy actions to overcome COVID-19 shocks: experts

BSS Speakers at a dialogue here yesterday said Bangladesh needs to quickly design and roll out policy actions and reforms on long-standing issues holding back private investment to effectively address the unfolding impact of COVID-led economic shocks. In order to boost the investment climate in the country to help stimulate recovery

Mobile phone use might get costlier

Direct tax on mobile phone use 15% VAT imposed on FY16 3% supplementary duty imposed on FY16 1% surcharge imposed on FY15 SD increased in FY20 The cost of talking on mobile phone may increase from this month as the supplementary duty on phone talks likely to be increased in next budget. This

BCI urges to set 10% corporate tax for all export-oriented industries in upcoming budget

BCI President Anwar-Ul Alam Chowdhury places the demand with a set of recommendations during a pre-budget discussion. Bangladesh Chamber of Industries (BCI) urged the government to set corporate tax at 10% for all export-oriented industries in the upcoming budget for 2020-21 fiscal year. BCI President Anwar-Ul Alam Chowdhury placed the demand with

SOCIAL MEDIA GIANTS IGNORE NBR ORDER ON VAT AGENTS

Social media giants like Facebook, Google and YouTube are not interested in appointing VAT agents in Bangladesh though the National Board of Revenue (NBR) has asked them to appoint VAT agents and pay 15 per cent VAT on advertisement revenue to the government. “Two months have elapsed since the directive was

THE ‘SILENT’ RISE OF INCOME TAX

When Finance Minister AMA Muhith in June 1 talked about tax measures in his budget speech in parliament, Wasim Hussain, a software engineer and one of the 12 lakh taxpayers of the country, felt something was wrong. Being a practitioner of computer science, Hussain is good with numbers, but he

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