Tag: VAT

BNP suggests cutting govt expanses without increasing VAT

- Times Report -

Bangladesh Nationalist Party (BNP) has urged the interim government to focus on reducing unnecessary development activities and expenses of the government and budgetary allocation for loans to autonomous bodies without increasing value added tax (VAT). Party’s Secretary General Mirza Fakhrul Islam Alamgir made the call at a press conference titled 'Taxes

Govt raises VAT, duties on over 100 items

- Times Report -

The government has increased Value Added Tax (VAT) and supplementary duties on over a hundred goods and services midway through the current 2024–25 fiscal year. Two ordinances related to these changes were issued on Thursday night. These are the Value Added Tax and Supplementary Duty (Amendment) Ordinance 2025 and the Excise

LPG price rises by Tk 22.15 per kg

- Times Report -

Price of Liquefied Petroleum Gas (LPG) has substantially increased by Tk 22.15 per kg to Tk 124.85 from the previous price of Tk 102.70 per kg for the month of February.Bangladesh Energy Regulatory Commission (BERC) announced its latest price through a press release on Thursday. As per the new price,

Corporate Academy holds orientation of 3rd batch students

- Times Report -

Corporate Academy has held its orientation of the third batch of POST GRADUATE DIPLOMA IN VAT, INCOME TAX and CUSTOMS MANAGEMENT and increasing the professional excellence on VAT and Income Tax affairs, a press release said Sunday. Arifur Rahman, Chairman, Corporate Academy welcomed everyone at the beginning of the program

bKash gets highest taxpayer award from NBR

- Times Report -

bKash has been honoured by the National Board of Revenue (NBR) as the highest Value Added TAX (VAT) payer in service sector at national level for iscal year 2020-21, a press release said Sunday. Kamal Quadir, CEO of bKash received the letter of honor and crest from Finance Minister AHM

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

HSBC partners with NBR to facilitate statutory payment solution

- Times Report -

 The Hongkong and Shanghai Banking Corporation (HSBC) Bangladesh has established a smooth online statutory payment processing solution for VAT (Value added tax), VAT Deduction at Source (VDS), Excise Duty, Supplementary Duty and Penalties payments in association with National Board of Revenue (NBR).  HSBC introduced the online statutory payment solution partnering with

NBR to install 10,000 EFD to prevent VAT evasion

- Times Report -

The National Board of Revenue (NBR) will install 10,000 Electronic Fiscal Devices (EFDs) in Dhaka, Chattogram and other big cities in the fiscal year 2022-23 in a bid to prevent Value Added Tax(VAT) evasion.  Finance minister AHM Mustafa Kamal in the proposed budget of 2022-23 kept an allocation to install EFDs

Cabinet asks NBR to cut VAT on edible oil import

- Times Report -

The Cabinet on Monday directed the National Board of Revenue (NBR) to take immediate steps to curtail the VAT on edible oil import to the lowest ceiling in the wake of the rising price of the essential item. The directive came from the Cabinet's meeting chaired by Prime Minister Sheikh Hasina

LTU-VAT awards GP for resolving maximum cases through ADR

- Times Report -

Grameenphone has been awarded for resolving the maximum number of cases through Alternative Dispute Resolution (ADR) in FY 2020-2021. Jens Becker, CFO of Grameenphone, received the award on behalf of the company at an award-giving programme organized by Large Taxpayers Unit – Value Added Tax (LTU-VAT) as part of the VAT