Tax and Customs | The Daily Star
  • Tax cuts for cement industry nominal, won’t lower prices

    Although the government said that it would reduce the taxes levied on the import of raw materials used to make cement, this initiative will not have a satisfactory impact as prices would remain the same at the consumer level, according to market players.

  • Corporate tax cut won’t pay off

    Despite a 2.5 percentage point corporate tax reduction, listed and non-listed companies might end up paying more tax than that last year because of a new plan to increase the tax deducted at source (TDS), said the ICAB yesterday.

  • Clinics outside major cities to get tax break

    The government will likely offer a 10-year full tax exemption in order to encourage private investors to establish hospitals outside of four districts, including Dhaka and Chattogram.

  • Women entrepreneurs may get tax relief

    Women entrepreneurs may receive a relief in tax payment on their incomes from businesses in the coming fiscal year, said an official of the finance ministry.

  • Tax offices to remain open during movement restrictions

    The National Board of Revenue will keep its tax offices open during the ongoing countrywide restrictions on movement.

  • What should be tax policy response to the pandemic in FY22?

    In the Addis Ababa Action Agenda 2015, which aims to provide a global framework for financing the Sustainable Development Goals, countries committed to enhancing revenue administration through modernised, progressive tax systems, improved tax policy, and more efficient tax collection.

  • NBR collection target may remain unchanged

    The government may keep its tax collection target unchanged for the National Board of Revenue in the next fiscal year because of the devastating effect of the coronavirus pandemic on the economy.

  • Import duty, VAT raise tax receipts in March

    Tax collection increased in March thanks to improvement in receipts from import duty and value added tax (VAT), showed provisional data from the National Board of Revenue (NBR).

  • Attracting FDI more crucial than ever:experts

    Nihad Kabir, president of the Metropolitan Chamber of Commerce and Industry, said: “If we want to bring FDI, we have to cooperate with the Bida and the country’s businessmen. That way, both sides will be able to identify weaknesses to attract FDIs.”

  • Corporate tax may be cut

    Finance Minister AHM Mustafa Kamal yesterday indicated that the government may consider reducing corporate tax rates for listed firms in the upcoming budget.

  • VAT offices to remain open

    The National Board of Revenue (NBR) yesterday said its field offices would remain open to receive monthly VAT returns from businesses during the days of restrictions imposed by the government to slow the spread of coronavirus infections.

  • NBR rejects Dhaka Club’s plea for Tk 33.7cr waiver

    The National Board of Revenue (NBR) has rejected a plea of Dhaka Club for a waiver of Tk 33.7 crore in unpaid value-added tax (VAT) and supplementary duty (SD).

  • NBR holds lottery on sales receipts generated by EFDs

    For the first time, the National Board of Revenue (NBR) held a lottery today with the receipts generated through electronic fiscal devices (EFDs) against purchases made by consumers from stores.

  • NBR to install electronic registers at retail, wholesale this month

    The National Board of Revenue is going to start installation of electronic transaction registers termed as electronic fiscal device from this month at retail and wholesale levels, says NBR Chairman Md Mosharraf Hossain Bhuiyan.

  • Shun tax-dodging tendency

    Chairman of the National Board of Revenue Mosharraf Hossain Bhuiyan has urged all to shun the “tax-evading tendency” for the sake of the country’s development.

  • More VAT software makers being listed

    The National Board of Revenue’s large taxpayer unit (LTU) has recently asked software companies to get listed with it if they were interested in providing programmes enabling businesses to maintain accounts and keep records of value-added tax (VAT).

  • Facebook to appoint local representative within 4-6 weeks

    Facebook will appoint a local representative within the next four to six weeks to ensure payment of value-added tax from their advertisement earnings from Bangladesh market, much to the relief of the revenue authority.

  • New tax return form for firms mandatory

    The tax administration has made it mandatory for both local and foreign firms to use a new form from the current fiscal year while filing returns, which will require companies to disclose more information in detail.

  • Ctg customs badly understaffed

    Most officials at Customs House Chattogram are not only performing their designated duties but also filling in for vacant posts for an acute shortage of workforce.

  • 10,000 third-party manpower to find out eligible taxpayers

    The government will use some 10,000 people through third-party sources to widen the tax net to upazila level by this year.

  • Tax Receipts in Bangladesh

    Tax Receipts in 9 Months: Tk 50,500cr short of target

    Revenue collection is poised to fall short of target by a big margin this fiscal year, with receipts growing the lowest in five years in the first nine months due to sluggish collection of customs tariff and value-added tax. Between July last year and March this year, the National Board of Revenue

  • TIN not mandatory for BO accounts: NBR

    The tax authority has not made opening taxpayer identification number (TIN) mandatory for stock investors, allaying the fears of general investors.

  • Logo of National Board of Revenue

    NBR panel prescribes changes

    A panel of the National Board of Revenue is set to propose continuation of multiple rates of VAT along with 15 percent flat rate under the VAT and Supplementary Duty Act 2012, said officials.

  • Dhaka International Trade Fair 2019

    24 firms sued for evading VAT at Dhaka trade fair

    Customs, Excise & VAT Commissionerate has sued 24 reputed organisations for not paying VAT on sales in this year's Dhaka

  • Tax receipts slow

    Tax collection growth slowed down in the first half of fiscal 2018-19, in what can be viewed as a major setback for the government's efforts to ramp up revenue.

  • Ctg customs to sue two firms

    The customs house of Chattogram is going to sue two firms—Grambangla Food Corporation and M/S N Islam Enterprise—on charges of money laundering in the name of goods import.

  • Automation and the future of tax payment

    The process of collecting tax and complying with tax laws is changing fast. New generation computer software, real time reporting, artificial intelligence and machine learning technologies are transforming the tax systems of economies around the world.

  • Tax waiver widens for firms in hi-tech park

    Firms making goods and providing services from hi-tech parks will not have to pay income tax in the first seven years of their operations, up from three years previously.

  • Income Tax Return 2018

    Tax offices to stay open Friday, Saturday

    Tax offices will remain open tomorrow and the day after for filing of income tax returns ahead of the December 2 deadline set by the government.

  • Online return submission

    Calls getting louder for online return submission

    The ninth edition of the tax fair ended yesterday with record numbers and a louder call for a functional online returns submission

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