Prime Minister Sheikh Hasina has said that every people will be benefitted by the proposed budget for FY 2019-20 as it will help continue the pace of ongoing development. Sheikh Hasina on Saturday described the proposed budget as people-friendly, development-oriented and balanced one. “Ever
The securities regulator has suggested imposing tax on the profit to be transferred as reserves from next year by the listed companies. However, tax will be applicable only to companies that will fail to disburse a minimum amount of cash dividend. The Bangladesh Securities and Exchange Commission
The price of rod is likely to go up by 10,350/- per MT, if the proposed VAT and tax is implemented as per 2019-20 budget proposal. Bangladesh Steel Manufacturers' Association (BSMA) said at present Tk 1400/- per MT VAT is applicable on MS rod sales and Tk 200/- on retail sales. But as per new pro
Paper traders on Saturday called on the government to reduce the import duty to five per cent from 25 per cent in the budget to help the local industry flourish. They made the call at a press conference at the Economic Reporters Forum (ERF) auditorium in the capital. Six organisations – Ban
Achieving the 'biggest' revenue target would be a challenging task with so many tax exemptions proposed in the budget, the revenue board chief said on Tuesday. He said a Tk 3.25-trillion revenue target has been proposed for fiscal year 2019-20 against their projection of around Tk 2.50 trillion in
Former finance advisor Dr A B Mirza Azizul Islam expressed on Monday his dissatisfaction over the poor attention the budget paid to address the banking sector problems. "I am extremely disappointed at the inadequate attention paid to the banking sector," he said. He made the remarks as a panelist
The budget proposal to keep the tax-free limit for individual taxpayers unchanged has evoked mixed reactions among business people and economists. Businesses wanted the ceiling to be adjusted with inflation to keep low-income people from paying taxes, but economists favoured continuation of the ex
A total of 209 listed companies will have to pay an additional Tk 107.92 billion if the proposed 15 per cent tax on 'reserves and retained earnings' is implemented. Officials concerned said a large number of companies, especially banks, will face an operational setback following the execution of t
Garment accessories makers have urged the government to provide them with equal budgetary facilities as proposed for the country's readymade garment (RMG) sector. Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA) in a budget reaction on Saturday expr
Planning minister MA Mannan said on Saturday the National Board of Revenue (NBR) needs extensive reforms to boost its capacity as the national tax body. He, however, said the much-needed transformation is not so easy a job. "It's easy to say, but difficult to do." "There're strong vested interest
The market operators and experts have expressed their mixed reaction to the measures announced for the country's capital market in the budget proposed for the fiscal year (FY) 2019-20. Hailing the proposed budgetary measures, some of them said investors would benefit from the incentives while othe
Gono Forum on Saturday turned down the national budget for 2019-20 saying it has been formulated to protect the interest of a handful of businesspeople and politicians ignoring people. "This is not a budget for people. We reject this budget...," said Gono Forum president Dr Kamal Hossain. He c
