IMF wants 15 percent VAT in all sectors
The fourth part of the Sixth Schedule of the Income Tax Act provides 10 years of tax exemption to 33 types of organizations in the manufacturing sector. Sectors in this list include active pharmaceutical ingredients and radiopharmaceuticals, agricultural equipment, automatic bricks, automobiles, barrier contraceptives and rubber latex, basic elements of electronics such as resistors, capacitors, […]
Mentioning that he would talk to the Prime Minister on the issue of VAT on Metrorail tickets, Obaidul Quader today said, “Metrorail is a special service of public transport. People are benefiting from this. I don't know who suddenly gave such news before any decision was taken at the highest level of the government. At […]
In this regard, the VAT Division of the National Board of Revenue (NBR) issued an office order on Thursday expressing its inability to waive tax on the country's first metro rail. At present, the Metro Rail has the privilege of tax exemption till the end of the current financial year. The operating authority, Dhaka Mass […]
Later, Metrorail officials wrote a letter to NBR Chairman Abu Hena Mohammad Rahmatul Munim, presenting their arguments against imposing VAT on Metrorail tickets. Regarding this, Dhaka Mass Transit Company Limited (DMTCL) Secretary and Director Abdur Rauf told Prothom Alo that there is a law to levy 15 percent VAT on air-conditioned train tickets. But all […]
In 2022, the government increased duties on imported dates in an effort to keep imports under control. It consisted of 25 percent import duty, 15 percent VAT, 5 percent advance income tax, 5 percent advance tax and 3 percent regulatory duty. The total tax burden was 59 percent. Recently, the government cut import duty by […]
Member of Parliament AK Azad has commented that Bangladesh Bank does not have enough power to regulate the banking sector. He said that a business group had borrowed Tk 12 billion from a bank but Bangladesh Bank was not aware of it. AK Azad, former president of the Federation of Bangladesh Chambers of Commerce and […]
Earlier, Grameen Kalyan had filed four income tax references in 2015, one in 2016 and two in 2018. Sardar Jinnat Ali, MD Omar Ali and Delawar Hussain represented Rural Welfare, while Attorney General AM Amin Uddin and Assistant Attorney General Tehmina Pauly represented the state. Tehmina Poly told Prothom Alo that following the Income Tax […]
Over the past decade, the amount of domestic and foreign debt as a proportion of revenue collected by the NBR has increased by nine percentage points, an analysis of NBR and Finance Ministry data shows. This means that government borrowing is increasing every year. The trend of borrowing has been high for the last three-four […]
Responding to another question on BNP general secretary Mirza Fakhrul Islam Alamgir’s comment on continuing the movement to “restore voting rights”, Anisul Haq said, “You have seen the elections, as well as spontaneous participation of the people. “I think people are now paying attention to the development work being done by Prime Minister Sheikh Hasina. […]
Additionally, VAT on import of refined and unrefined soybean and palm oil has been fixed at 10 percent instead of the existing 15 percent. This will remain in force till April 15. Meanwhile, before Ramadan, the import duty on dates has been reduced by 10 percent. The current duty is 25 percent which will remain […]
On the other hand, food inflation in the country fell to 9.58 percent in December last year, which was 10.76 percent in November. Food inflation reached a 12-year high of 12.56 percent in October last year. In December last year, food inflation was 9.66 percent in rural areas and 9.46 percent in cities. Overall non-food […]
Expressing his gratitude on receiving the award, Shahzad Munim said, “BAT Bangladesh fully adheres to the laws of the country, maintaining a culture of transparency and timely tax payment. We take pride in making a significant contribution to national development and envision BAT Bangladesh as a steadfast development partner in the country’s journey towards becoming […]
