- BNP focuses entirely on elections
- Instagram profile grids to switch from squares to rectangles
- Govt seeks opinion on July proclamation
- Over 50,000 garment workers unemployed in a year
- Russia sentences Navalny lawyers to prison for relaying his messages
- 116 Palestinians killed since agreement announced
- Erdogan criticizes opposition over mayor's arrest amid corruption probe
- Trump to be sworn in at indoor ceremony first time due to extreme cold
- UK to announce significant hike in visa sponsorship fees
- David Lynch, iconic filmmaker, dies at 78
- Import duty hike sends fruit market in turmoil
- Dhaka's air quality 2nd worst globally this morning
- Unsweetened coffee reduces Alzheimer's disease risk by 30%
- UK central bank's Bailey warns of economic nationalism risks
- Awareness meeting on dowry held in Dinajpur
- Country at 5 risks, inflation at top
- TikTok says it will go dark Sunday without Biden’s interference
- ISRO releases video of SpaDeX satellite docking
- Rangpur Riders extend perfect winning streak to eight
- Israel prepares for hostages’ return
Businessmen to raise movement if VAT is not withdrawn
Traders in the agro-processing sector have called for the withdrawal of the increased VAT and customs duties on processed food products. Traders in this sector have warned of taking to the streets with movement if initiatives are not taken to withdraw VAT and taxes within 7 days. At the same time,...
Additional VAT on restaurants withdrawn
Amid widespread protest against value added tax (VAT) increase in various sectors the government has decided to revert VAT at restaurants to 5%. The NBR announced the removal of the additional VAT on Thursday (January 16), as the Bangladesh Restaurant Owners Association staged a human chain and...
NBR wants answer from field level offices
The National Board of Revenue (NBR) has asked its field level offices to send their feedback on how to remove any bottlenecks in implementation of VAT-related laws and rules to boost the revenue collection, reports UNB. The VAT collection is regulated by Value Added Tax and Supplementary Duty...
No hope on the horizon
From business leaders to ordinary citizens, everyone in Bangladesh is feeling the weight of an escalating crisis. As Abu Ahmed, a former professor at Dhaka University, put it, There is no good news for the common people. Only desperation is growing. More than five and a half months have passed...
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...
Govt's VAT, SD hike on 100+ products suicidal
Dhaka Chamber of Commerce and Industries (DCCI) President Taskin Ahmed has urged the government to reduce expenses by 20% to save Tk50,000 crore and avoid burdening businesses with increased value added tax (VAT), supplementary duty (SD), and gas prices, reports UNB. Speaking at a press event in...
Interim government gradually fails: Rizvi
BNP senior joint secretary general Ruhul Kabir Rizvi said the interim government is gradually failing to control the daily essentials. The interim government is failing to give relief to the common people. The additional burden will be put on the mass people for increasing VAT on more than 100...
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...
Restaurant owners criticize VAT hike Plan, threaten strike
The Bangladesh Restaurant Owners Association (BROA) criticized the governments plan to increase Value Added Tax (VAT) amid the current high inflation, stating that it would directly impact the general people. The leaders of the association issued the warning at a press conference held at a hotel...
Mobile Recharge: Taka 56 of 100 is VAT
The cost for internet and talk-time will further increased as the interim government is set to raise the supplementary duty rate to 23 percent from present 20 percent in the sector. A gazette regarding this may be issued soon. National Revenue Board (NBR) source said: On mobile phone services...
Higher VAT to add pressure on industries
The interim governments decision to increase VAT on 65 itemsincluding medicine, powdered milk, biscuits, juice, fruits, soap, and sweetsmidway through the 202425 fiscal year has sparked outrage among businessmen. Stakeholders expressed frustration over the lack of prior consultation, warning...
VAT burden will upsurge pressure
The interim government has decided to increase VAT [Value Added Tax] rate in the middle of the fiscal year aiming to bolster revenue earnings and satisfy IMF bailout conditions. Instead of providing relief from the pressure of inflation, the government decided to increase the cost of living of the...
VAT hike to have no impact on essential goods prices: Finance Adviser
Finance Adviser Dr Salehuddin Ahmedassured that the recent decision to increase VAT on 43 items will not impact the prices of essential goods. He made this remark while speaking to the media following a meeting of the Advisory Council on Government Procurement at the Secretariat on Thursday (Jan...
Govt freed edible oil from duty, tax, VAT until March 31
The government has exempted all edible oil, including canola and sunflower oil, from duty, tax, and VAT until March 31, 2025, aiming to increase the supply of such essential items in the market. To keep the market supply normal and the prices at a tolerable level during the holy month of...
BB issues guidelines for operations of business in country by JVCA
Bangladesh Bank (BB) has issued guidelines for operations of business in Bangladesh by Joint Ventures or Consortiums or Associations (JVCA) having foreign partner (s) in order to make the process more transparent and more accountable, reports BSS. The central bank in a circular issued on...
VAT on edible oil reduced to 5% to stabilise prices
The import-level value-added tax (VAT) on edible oil has been reduced from 10 percent to 5 percent to maintain a steady supply in the market. The National Board of Revenue (NBR) issued a notification in this regard on Tuesday. Earlier, the NBR had issued exemption notifications to boost the...
NBR waives airfare excise duty, VAT for hajj pilgrims
The National Board of Revenue (NBR) has waived the excise duty on inbound and outbound airfare for hajj pilgrims, as well as the value-added tax (VAT) on three types of service charges, aiming to lower their overall expenses of hajj, reports The Business Standard. Currently, the excise duty for...