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VAT-tax increase will not have ‘widespread impact’: Press Secretary to Chief Advisor
Press Secretary to the Chief Advisor stressed that the government wants to make the health of the economy stable and healthy; This will be better for the country. A journalist asked him, don’t you think the pressure on the general public will increase? And, isn’t the government becoming unpopular by taking the decision to increase…
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Cooking, cellphone, internet, medicine expensive
Cooking, cellphone, internet, medicine expensive
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Why was VAT increased suddenly, what is the condition of the economy?
Why was VAT increased suddenly, what is the condition of the economy?
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Government exempts VAT on metro rail services for another year
The Board of Revenue, as per the power given under sub-section (3) of Section 126 of the Value Added Tax and Supplementary Duty Act, 2012, has given exemption to the state in a quick, safe, time-saving, environment-friendly manner. State-of-the-art technology based transportation system metro rail service by paying value added tax. This order will come…
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TOAB demands continuation of existing VAT exemption
Soon after the budget announcement, a delegation led by TOAB president met FBCCI president Mahbubul Alam and discussed the withdrawal of the proposed VAT on tour operator services. Mohammad Rafiuzzaman drew the attention of journalists to this so that this demand of TOAB would attract the attention of the concerned authorities. Among others, former Bangladesh…
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Obaidul Quader expressed concern over imposition of 15% VAT on Metrorail ticket fare.
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…
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15 percent VAT on metro rail tickets, possibility of fare increase
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…
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NBR wants to impose 15% VAT on Metrorail tickets from July: Latest update
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…
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Rising prices of dates in Bangladesh: Disproportionate cost analysis reveals rising rates
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…
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Business group borrowed Tk 12b without Central Bank's knowledge: AK Azad
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…
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BGMEA President to simplify customs, bond, VAT related services
He made the remarks while addressing the inaugural function of ‘Three Months Certificate Course on Customs, Bonds, VAT, Taxes and SD’ as the chief guest. The event was organized by Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) in association with Bangladesh Tax Training Institute (BTTI) in Dhaka on Sunday. Azizur Rahman, Commissioner,…
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Revenue collection grew by 8.92 per cent but failed to meet the target in July-February period
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…
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Separate tax administration, expert in policy making body
Separate tax administration, expert in policy making body
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Imports of mobile phones fall due to increased production in Bangladesh
Local and foreign brands alike have started taking advantage of the growing market by setting up mobile phone manufacturing plants in Bangladesh. Production and sales of “Made in Bangladesh” handsets are growing rapidly amid a sharp decline in imports. Locally manufactured handsets from about a dozen small and large factories are meeting the bulk of…
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Top court orders Grameenphone, Robi and Banglalink to pay Tk 23.55 billion in fees, VAT
The Appellate Division of the Supreme Court has ordered Grameenphone, Robi and Banglalink to pay a total of Tk 23.55 billion in various fees and value-added tax. Grameenphone alone will have to pay Rs 11.65 billion, while Robi will pay Rs 6.25 billion and Banglalink Rs 5.65 billion. An appellate bench headed by Chief Justice…