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No VAT on purchases at supershops: NBR
Customers will no longer have to pay Value Added Tax (VAT) for purchases at the superstrores, reports UNB. The retail price of the products will be the final price to pay, according to a National Board of Revenue (NBR) release. The NBRs VAT department issued a notification in this regard on...
Over 1.4m taxpayers filed returns online
Over 1.4 million taxpayers have filed their income tax returns online this fiscal year and over 1.8 million have registered for the National Board of Revenues (NBR) e-return system. According to a NBR press release, the NBRs online income tax return filing system has received a huge response...
Proposed Revenue Commission to enhance NBR's tax efficiency
A high-level advisory panel has recommended establishing a dedicated commission to enhance the National Board of Revenues (NBR) capacity for tax administration and revenue collection through well-founded policies, reports UNB. The proposed Revenue Commission aims to develop revenue policies...
ACC granted permission to interrogate Matiur Rahman at jail gate
The Anti-Corruption Commission (ACC) has been granted permission to interrogate Matiur Rahman, a former official of the National Board of Revenue (NBR), for three days at the jail gate. The decision was made by Dhaka Metropolitan Senior Special Judge Md Zakir Hossain Galib after a hearing on the...
NBR to collect revenue only
The National Board of Revenue (NBR) reform committee said NBR should not both formulate policies and collect revenue, rather a separate, independent and specialized policy wing should be formed. The committee argues that this will free taxpayers from harassment due to biased decisions and...
VAT hike for auto workshops cancelled
The National Bureau of Revenue (NBR) on Monday announced that it has cancelled the decision to hike VAT on auto workshops and motorbike repairing garages by 5 percent to 15 percent, meaning the previous 10 percent VAT rate will be reinstated. It was the governments latest retreat from a decision...
‘No speed’ in revenue collection
The revenue sector contributes significantly in government management and development program, making it one of the most key sectors. Therefore, the government eyes on increasing collection from the sector. But the revenue sector of the country is fragile now because of the disruption in...
Revenue deficit stands at Tk42,000cr in 5 months
Chief Advisers Press Secretary Shafiqul Alam on Sunday said that the interim government has decided to impose VAT to reduce the revenue deficit, not in compliance with the conditions from the International Monetary Fund (IMF). The press secretary said, The tax-to-GDP ratio in Bangladesh has been...
VAT, supplementary duty increased on over hundred goods, services
The interim government has increased the value added tax (VAT) and supplementary duty in the middle of the 2024-25 fiscal year, resulting in a rise in the cost of living. National Board of Revenue on Thursday has issued two ordinances in this regard, they are value added tax and...
NBR pays tribute to martyrs of the mass uprising
The National Board of Revenue (NBR) paid tribute to the martyrs of the July Mass Uprising, reports Dhaka Tribune. Family members of 826 martyrs will not be required to provide a PSR (Proof of Submission of Return) when purchasing savings certificates with government assistance funds. On...
Online tax returns cross 10 lakh
The number of online income tax returns filed has crossed 10 lakh while the number of registrations for online return filing has crossed 16 lakh. According to the National Board of Revenue (NBR), using the website www.etaxnbr.gov.bd, individual taxpayers can easily and quickly submit their...
Revenue deficit hits 31,000 crore taka in four months
Government is facing a severe revenue shortfall, with a deficit exceeding 30,000 crore taka in the first four months of the fiscal year, raising serious concerns about the implementation of the national budget. The country is grappling with high inflation, a liquidity crisis in banks, sluggish...
Over 5 lakh tax returns submitted through online till now
The National Board of Revenue (NBR) has so far received over 500,000 income tax returns online, the number is 129 percent higher than the same period of the of the previous year, reports BSS. As of Sunday, the number of online returns filings was 2,17,471. Over 12.50 lakh taxpayers have...