The National Board of Revenue (NBR) today, Thursday, extended the deadline for submission of income tax returns by individual taxpayers for the 2025-2026 tax year to March 31, 2026. According to an official order of the NBR, the decision was taken in public interest under the powers conferred by Section 334 of the Income Tax […]
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 […]
Eligible taxpayers are required to report nine types of costs under the new Act. These are – personal and family maintenance costs, housing expenses, conveyance costs, utility bills, education costs, self-financed travel and leisure travel costs, festival expenses, details of tax at source, including savings certificates, and details of interest payments. Both formal and informal […]
The NBR has been entrusted with the responsibility of achieving the revenue collection target of Taka 4.3 trillion in the next fiscal year. This is 600 billion taka more than the target given in the current financial year 2022-23. In the last fiscal year of 2021-22, there was a deficit of Tk 300 billion in […]
South Korea’s chip maker SK Hynix and America’s Micron Technology have also reduced production. A report released by Eugene Investment & Futures said Samsung’s “proactive” efforts to break out of its inventory rut were “evaluated positively” given its impact on market sentiment and demand for memory chips. “Even if the pace of recovery for demand […]
NBR officials said that out of the total revenue collection of Rs 1,96,037.51 crore during this eight-month period, Rs 59,198.07 crore was received from customs duty, Rs 76,401.46 crore from VAT and Rs 60,437.98 crore from income tax and travel tax. This total revenue collection, however, is short of the revenue collection target of Tk […]
The tax oversight comes after an angry reaction to a documentary by the British broadcaster that focused on Prime Minister Narendra Modi’s leadership as chief minister of the western state of Gujarat during the 2002 riots. The government has dismissed the documentary as propaganda and banned its streaming and sharing on social media. The tax […]
Certain inclusions and exclusions were brought in the new income tax law, he said, adding that once the new law comes into force, the income tax authorities cannot fix income tax at will as they have to follow a mathematical model in income tax assessment. , He said that the government is trying to digitize […]
The government has approved the draft Income Tax Act 2023, which has reduced the discretionary powers of tax officers and eased the paper requirement for businesses in filing tax returns. After the Council of Ministers headed by Prime Minister Sheikh Hasina approved the draft on Monday, Cabinet Secretary Mohammad Mahbub Hussain said that once the […]
The committee questioned the legality of some of those deductions, including one for $916 million, and members said Tuesday that the tax return was short on details. The panel is expected to issue revised versions of their full returns in the coming days. Trump refused to make his tax returns public during his two presidential […]
NBR has been giving tax cards and honors to top taxpayers since 2016. Of the 141 top taxpayers in 2021-22, 76 are individuals and the rest are organisations. Organizations include banks, non-banking financial organizations, telecommunications, engineering, food and related organizations, fuel, jute, spinning and textile, pharmaceutical and chemical, print and electronic media, housing, readymade garments, […]