Tag: Tax

CPD proposes tax-free income limit at Tk 3.50 lakh

- Times Report -

The Centre for Policy Dialogue (CPD) has proposed for raising the tax free income ceiling for individual taxpayers by Taka 50,000 to Taka 3.50 lakh to offset the shock of inflationary pressures on the commoners. The civil society think tank also proposed for providing 'special increment' to the lower tier employees

NBR to reduce tax benefits on certain imports

- Times Report -

The National Board of Revenue (NBR) wants to reduce tax benefits on the import of goods that are also being produced locally to bring down dependency. "We aren't in such a situation where we have to be dependent on foreigners for everything," NBR Chairman Abu Hena Md Rahmatul Muneem said at

Tax evasion becomes rampant in country

- Anisul Islam, UNB -

Despite taking VAT registration, around 22 percent of companies are not submitting their VAT returns. A large number of individuals are also remaining out of the tax network despite having taxable income. A total of 26 lakh people or 52.41 percent of the taxpayers did not submit their income tax

NBR relaxes tax return rules on bank loans

- Times Report -

The National Board of Revenue (NBR) has relaxed the condition of showing tax return documents for bank loans up to Tk 20 lakh. It issued a notification in this regard on Sunday with immediate effect, which will remain in force June 30, 2023. The budget for the fiscal year 2022-23 made tax

FSIBL gets highest taxpayer award

- Times Report -

First Security Islami Bank Ltd. (FSIBL) has been awarded for being one of the highest taxpayers in banking sector for 2021-22 fiscal year by the Large Taxpayers Unit (LTU) of the National Board of Revenue, a press release said Thursday. Md. Masudur Rahman Shah, DMD of the bank received the

Reconsider taxes on workers’ profit fund

- Times Report -

Speakers at a discussion on the national budget for fiscal year 2022-23 (FY23) requested the government to reconsider the proposal to impose taxes on the Worker’s Profit Participation Fund (WPPF) of different organizations. The Institute of Chartered Secretaries of Bangladesh (ICSB) organised the discussion at a city hotel on Tuesday. Officials,

BGMEA wants to keep 0.5pc source tax for next 5 years

- Times Report -

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has urged the government to keep the source tax on export earnings unchanged for at least for next five years to help the sector overcome difficult moment. BGMEA president Faruque Hassan made the appeal during a post-budget press conference at a city hotel on

BRAC Bank posts Tk 134cr profit after tax in Q1 of 2022

- Times Report -

BRAC Bank has registered a Profit After-Tax (PAT) of BDT 134 crore in the first quarter (January-March) of 2022 on a standalone basis, a press release said Friday. On a consolidated basis, the bank generated a PAT of BDT 97 crore during the first three months of 2022. The bank announced its