Dhaka is expected to place its detailed action plan before the European Union (EU) on addressing the possible challenges after Bangladesh's graduation from the least-developed country (LDC) in 2026, sources said. It will also seek continued trade preferences under the EU's new Generalised Scheme o
Bangladesh's revenue authority has begun tightening the tax-exemption regime incorporating provisions to pass on its benefits to the common people, under an overdue fiscal reform. The National Board of Revenue has tagged some new conditions, including free-of-cost services in healthcare centres, a
Farm loan disbursement is on course to meet the target as banks have disbursed 68.15 per cent of the target in eight months (July-Feb) of the current fiscal. Bangladesh Bank's latest loan update shows that around Tk 216.60 billion were disbursed in the agriculture sector against the target set for
Bangladesh's taka now appears to be settling near its fair value after its real effective exchange rate (REER) against a 15-currency basket of global trading partners dropped significantly. The REER, measured by the central bank of Bangladesh against the currency basket, now stood at 104.8, as of
Dealing with the pressure of inflation while maintaining the growth momentum will be main focus of next budget, government policymakers said Wednesday as businesses suggested taxation reforms and incentivizing economic activity. Prominent business leaders at a pre-budget meet urged the government
Prime Minister's Private Industries and Investment Adviser Salman F Rahman has said the process of opening letters of credit (LCs) would be eased further in coming days and foreign currency reserves would be stabilised by June this year. Regarding the shortage of foreign currency reserves in the l
The government needs to spend money for supporting the country's economic growth, the finance minister said Tuesday. "How the economy will run unless money is spent," AHM Mustafa Kamal posed the question in justifying pursuance of a moderately expansionary policy so far despite suggestions for a c
The Executive Committee of the National Economic Council (ECNEC) has approved a Tk 4.26 billion project to strengthen the village courts across the country in order to ensure wider access of rural poor, female, lagging behind and under privilege people in getting justice. The approval came from a
Bangladesh and Bhutan are set to sign an agreement and a protocol to offer each other multi-modal transit facilities aimed at boosting bilateral trade. A Bangladesh delegation, led by Commerce Minister Tipu Munshi, was already on its way to Bhutan where the deals are expected to be signed likely t
Bangladesh's trade leaders demanded "logical duty-tax protection" for local industry and investment as the finance minister consulted them Monday on fiscal measures in making the coming budget amid persisting odds. At a virtually held pre-budget meeting with Finance Minister AHM Mustafa Kamal, the
Chairman of the Financial Reporting Council (FRC) Professor Hamid Ullah Bhuiyan has said no bank in the country follows International Accounting Standards or International Financial Reporting Standards (IFRS) in preparing financial statements. Due to this, the actual picture of the financial healt
The revenue collection by the National Board of Revenue (NBR) during the July-February period of the current fiscal year (FY23) witnessed an 8.92 per cent growth from income tax, VAT and customs with a collection of Tk 1.96 trillion. The revenue collection by the NBR during the same period of the
Collection of value-added tax (VAT) registered a hefty growth of about 15 per cent in the first eight months to February of the current fiscal year (FY) over the same period of last FY, largely contributed by domestic consumption of goods. The VAT wing of the National Board of Revenue (NBR) mobili
