IMF wants 15 percent VAT in all sectors
In the meeting, the IMF wanted to know whether the Central Bank's inspection of the financial health of the banks is continuing or not. Clarification has also been sought as to whether the inspection reports are communicated to the customers or not. Besides, the IMF delegation suggested increasing the quality and number of inspections to […]
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 […]
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 […]
According to BBS data, on point-to-point basis at constant prices, the growth rate of agriculture sector in the first quarter of the current financial year was 0.84 percent, which was 2.07 percent in the same period of 2022. -23 Fiscal. In the last financial year, the growth of agriculture sector was 3.37 percent. The growth […]
IMF mission chief for Bangladesh Rahul Anand gave this advice in a virtual press briefing on Friday. He answered various questions regarding the financial situation in Bangladesh and the way out. The recommendations came after the global lender disbursed $690 million in the second tranche of the $4.7 billion loan to Bangladesh. The Asia and […]
According to IMF sources, authorities in Bangladesh have been asked to carry out major reforms in four key sectors – revenue, finance, energy and social security. In the revenue sector, authorities need to reduce long-standing concessions in income tax, VAT and tariffs. A team led by Revenue Board member Shams Uddin Ahmed is already working […]
The conditions for obtaining the loan are – withdrawal of interest rate limits for bank loans, letting the market decide the dollar exchange rate, maintaining foreign exchange reserves at a fixed level, adjusting fuel prices with the international market, Increasing the tax-GDP ratio and reducing debt collection by selling savings bonds etc. On October 4, […]
However, an IMF source said Bangladesh’s net reserves are now less than US$17 billion. If Bangladesh Bank’s general reserve calculation method is taken into account, the foreign exchange reserves are still US$26.68 billion. The central bank’s remaining foreign exchange reserves can cover three months of import costs. Normally a country’s reserves should cover three months’ […]
