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Post-Covid economic recovery focused budget: DCCI

DCCI President Shams Mahmud in his initial budget reaction said that the budget has focused GDP growth of 8.2 percent and inflation of 5.4 percent. He termed the budget a progressive and high growth targeted one, which is appreciable. DCCI also appreciates initiative of increasing investment and employment. The bufget is

NOAB urges government to cut taxes on newspapers

Newspaper Owners’ Association of Bangladesh (NOAB) urged the government to cut taxes on unstable newspaper industry to help it survive especially amid ongoing pandemic. The association, in its proposal to finance ministry in formulating national budget for FY2020-21, made the demand recently, reports Dhaka Tribune. “The newspaper industry has been fighting to

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

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

GOVT EASES GUIDELINES FOR QUICK DISBURSEMENT OF DEV FUNDS

The government has amended the guidelines for disbursement and utilisation of budgetary allocations for the development projects aiming to speed up implementation of Annual Development Programme (ADB). Project directors of development projects will now be able to use funds for their respective development projects in line with the budgetary allocations from

BIA FOR WITHDRAWAL OF 15PC VAT ON INSURANCE AGENT COMMISSION

Bangladesh Insurance Association (BIA) has demanded withdrawal of 15 per cent VAT on the insurance agent commission in the budget for fiscal year 2018-19 (FY19) for the expansion of insurance industry. “There is 15 per cent VAT at source on agent commission that has been affecting the insurance industry . .

IS IT TAXING TIME FOR ONLINE BUSINESS?

A few years ago, Tanisha Kamal, a marketing executive couldn’t think of getting her Eid shopping done from a website or Facebook page. Now, she conveniently does that. “It’s not that I don’t miss the joy of roaming around in shopping malls or haggling with shopkeepers during Eid shopping. But now

Budget 2018-19: high promises, unclear goals

Pre-election budget is about understanding the political economy and delivering a sharp messageFinance Minister AbulMaal Abdul Muhith apparently dipped into his party’s electoral playbook to design the Tk 4,64,573 crore national budget for FY2018-19. The 84-year-old minister who stood at the front row in Parliament on June 7 for a

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