DhakaTribune
Wednesday September 20, 2017 02:13 AM



  • Tax return deadline extended till Nov 2

    The NBR extended the deadline by a month on Thursday afternoonThe National Board of Revenue (NBR) has extended the deadline for submitting income tax returns till November 2.

    The NBR extended the deadline by a month on Thursday afternoon.

    Wishing anonymity, a high official of the NBR confirmed the Dhaka Tribube about the deadline extention.

    Another officials of NBR, Bashir Uddin Ahmed told the Dhaka Tribune: “We usually have to extend the deadline because of not getting full response till the due date.”

  • Taxmen get power to suspend consignment

    The board, on July 20, this year, issued a rule describing the methods of implementation, collection, payment and penal procedure of the surchargeThe National Board of Revenue (NBR) has empowered its tax officials to suspend the release and delivery of the cellular handsets if any company fails to comply with the newly introduced Information and Communication Development surcharge.

    The board, on July 20, this year, issued a rule describing the methods of implementation, collection, payment and penal procedure of the surcharge, which is the first of its kind in Bangladesh.

  • Proposals invited to accommodate workers’ bonus in labour law

    The state minister once again urged the owners to ensure payment of salary, bonus and other allowances to the workers by July 26State minister for labour and employment ministry Mujibul Haque Chunnu has sought specific proposal from the workers’ leaders over bonus issue to accommodate in the existing labour law.

    Come up with a specific written proposal, so we can consider to include bonus issue in the law to avert any dispute over it, said Mujibul Haque while addressing a roundtable titled “Garment workers’ salary and bonus: Eid Festival” held in the city yesterday. 

  • Proposals invited to accommodate workers’ bonus in labour law

    The state minister once again urged the owners to ensure payment of salary, bonus and other allowances to the workers by July 26State minister for labour and employment ministry Mujibul Haque Chunnu has sought specific proposal from the workers’ leaders over bonus issue to accommodate in the existing labour law.

    Come up with a specific written proposal, so we can consider to include bonus issue in the law to avert any dispute over it, said Mujibul Haque while addressing a roundtable titled “Garment workers’ salary and bonus: Eid Festival” held in the city yesterday. 

  • New monetary policy may focus on credit flow, investment

    The new MPS for the first half of the current 2014-15 financial year (FY15) would be announced later this monthBangladesh Bank (BB) is preparing the new monetary policy statement (MPS) with special focus on some measures for increasing credit flow and spurring local and foreign investment.

    The new MPS for the first half of the current 2014-15 financial year (FY15) would be announced later this month, reports BSS.

    “There will be some measures to cut lending rate to create more demand for credit in the market,” a central bank official told BSS.

  • NBR observes VAT day today

    To celebrate the day, it would organise a number of programmes, including awarding the highest VAT paying companies for their outstanding contribution to the government’s exchequer in the financial year 2012-13The National Board of Revenue (NBR) observes Value Added Tax (VAT) day across the country today for the fourth consecutive years. It also starts the VAT week simultaneously.

    To celebrate the day, it would organise a number of programmes, including awarding the highest VAT paying companies for their outstanding contribution to the government’s exchequer in the financial year 2012-13. The day’s programme will begin through a rally that will start at 9am from the NBR headquarters at Shegunbagicha and will conclude at the National Press Club.

  • More cars, more tax

    If anyone owns more than one vehicle, he/she will have to pay 50% extra tax apart from the tax payable on the vehicleOwners of motor cars, sport utility vehicles (SUVs) or microbuses have to pay an extra 50% advance income tax (AIT) on renewal of fitness certificates and registration fees if they possess more than one vehicle.

    The National Board of Revenue has issued a notification, finalising the new AIT rates on renewal of fitness certificates and registration of the three motor vehicles with the introduction of three new slabs that took effect from July 1.

  • NBR to clarify further house rent payment through banks

    The regulatory board has already issued a rule, last week, asking the house owners to collect their house rents through banking channel in separate bank accounts, only to be used for the rent purposesNational Board of Revenue (NBR) is likely to issue further clarification or a more specific guideline soon to make its position clear on the proposed monthly house rent payment over Tk25,000 through banking channel.

    The regulatory board has already issued a rule, last week, asking the house owners to collect their house rents through banking channel in separate bank accounts, only to be used for the rent purposes, said NBR officials.

  • BPC tenders to sell 170,000 bbls naphtha

    Bangladesh Petroleum Corp (BPC) has issued a tender to sell 170,000 barrels of naphtha for Aug 3-5 loading from Chittagong, a company official said recently.

    The tender will close on July 16, with validity up to July 24.

    The tender comes at a time when naphtha sentiment is strong as a string of refinery outages and maintenance in India has dented the country’s gasoline supplies.

  • NBR set to curb tax evasion by MNCs

    The law was initially framed under the Finance Bill 2012 to identify and prevent tax evasion by foreign companies operating in BangladeshNational Board of Revenue is set to try stopping tax evasion, if there is any, by multinational companies as the Transfer Pricing Law becomes effective from today.

    The law was initially framed under the Finance Bill 2012 to identify and prevent tax evasion by foreign companies operating in Bangladesh.

    The law, however, took two years more to come into effect due to lack of expertise and attitude among both the taxmen and the taxpayers, a high official of NBR said.

  • Relocation of RMG units may ease pressure on capital

    Relocation of RMG units may ease pressure on capital

    hey estimated that around 1,027 RMG units, employing nearly five lakh workers, are located in the capital, while there are 533 factories with about 3.48 lakh workers in Savar and AshuliaRelocating over one thousand readymade garment factories from Dhaka to outlying areas may help ease some of the severe problems faced by residents of the capital city, including chronic traffic jams and environmental
    pollution.

    If such a plan were to be implemented, at least 15 lakh people, mostly RMG workers and their dependents, would be forced to move out of the overcrowded city, reducing ever-increasing pressures on it, according to data of the Department of Inspection for Factories and Establishments.

  • Tax-free capital gain limit may be raised to Tk20 lakh

    To encourage the investors to invest more in the stock market and to protect their interests, the government is now planning not to impose any capital gain tax on profits up to Tk20 lakhThe government is likely to finalise the ceiling for the tax-free capital gain at Tk20 lakh instead of the proposed Tk10 lakh to protect the interest of the investors and maintain investment flow to the stock market.

    To encourage the investors to invest more in the stock market and to protect their interests, the government is now planning not to impose any capital gain tax on profits up to Tk20 lakh as this change will not have that much negative impact on the revenue earnings, a high official of National Board of Revenue (NBR) said yesterday.

  • Muhith for serious efforts on land use to improve productivity

    Muhith for serious efforts on land use to improve productivity

    “Plan for the best use of land is important at the upazila level. The land management is so poor in Bangladesh. I think, we should work seriously regarding this”Finance Minister AMA Muhith yesterday put emphasis on best use of land for increasing the productivity.

    “Plan for the best use of land is important at the upazila level. The land management is so poor in Bangladesh. I think, we should work seriously regarding this,” Muhith said, opening the two-day conference of Bangladesh Economists’ Forum (BEF) at a city hotel.

  • State banks likely to see ‘tougher policy’ on directors

    State banks likely to see ‘tougher policy’ on directors

    Muhith will discuss about formulating a tougher policy to appoint chairmen and directors for the state-owned banksFinance Minister AMA Muhith will sit today with three secretaries and NBR chairman to discuss about strategies to bring back discipline in the country’s scam-hit state-owned banks.

    He will also discuss about formulating a tougher policy to appoint chairmen and directors for the state-owned banks.

  • Import tariff on refrigerator may see slight change

    Import tariff on refrigerator may see slight change

    The NBR has decided to fix the tariff value for the two-door refrigerators at minimum US$0.75 per litre while it would be US$1.30 for side by sideThe National Board of Revenue (NBR) has, in principal, agreed to finalise the tariff value on the imported refrigerators with a little hike on the fridges imported from Thailand as the local refrigerator manufacturers and assemblers have long been demanding the tariff rate hike for encouraging domestic business.

  • BAPLC wants corporate tax cut for listed companies

    Currently, tax rate for listed companies are 27.5% and for non-listed companies 37.5%. Minister AMA Muhith proposed to cut corporate tax for non-listed companies by 2.5 percentage pointsOwners of publicly listed firms yesterday demanded reducing corporate tax for the companies to attract more companies to get listed with the stock exchanges. 

    Currently, tax rate for listed companies are 27.5% and for non-listed companies 37.5%. Minister AMA Muhith proposed to cut corporate tax for non-listed companies by 2.5 percentage points.

  • Textile, apparel makers exempted from duties

    Textile, apparel makers exempted from duties

    A gazette notification was issued last week, limiting the facility only for the RMG industryImport of three types of fire safety equipments has been declared duty-free to facilitate ensuring safer working condition in the apparel factories.

    The equipments are fire resistant door, sprinkler system and equipment, and emergency light with exit sign and double heads with a public interest view.

    A gazette notification was issued last week, limiting the facility only for the RMG industry.

  • Jewellers: Duty hike to be bane for gold business

    Finance Minister AMA Muhith proposed raising duty on all gold imports to Tk3,000 per tola (11.66g) from the present Tk150Local jewellers urged the government to cancel the proposed duty hike on gold import, which they said could affect their business badly.

    They think the government should adopt stricter measures to prevent smuggling rather than increasing
    duties.

    Finance Minister AMA Muhith proposed raising duty on all gold imports to Tk3,000 per tola (11.66g) from the present Tk150.

    Muhith also proposed 3% value added tax on jewellery services, which is 2% at present.

    At present, gold traders pay Tk150 per tola as import duty plus a 4% advance income tax.

  • Jewellers: Duty hike to be bane for gold business

    Jewellers: Duty hike to be bane for gold business

    Finance Minister AMA Muhith proposed raising duty on all gold imports to Tk3,000 per tola (11.66g) from the present Tk150Local jewellers urged the government to cancel the proposed duty hike on gold import, which they said could affect their business badly.

    They think the government should adopt stricter measures to prevent smuggling rather than increasing
    duties.

    Finance Minister AMA Muhith proposed raising duty on all gold imports to Tk3,000 per tola (11.66g) from the present Tk150.

    Muhith also proposed 3% value added tax on jewellery services, which is 2% at present.

    At present, gold traders pay Tk150 per tola as import duty plus a 4% advance income tax.

  • Plastic producers still press for 20% cash incentive

    Apart from withdrawal of the GSP facilities, the increased shipment cost has also put this sector in further crisis of global price competativenessThe platform of the plastic manufacturers and exporters still demands 20% cash incentive as this sector is now facing stiff global competitation, especially in the US market following the suspension of the Generalised System of Preferences (GSP) facilities by the US adminstration since June 27, 2013. 

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