But companies must go cashless

Tk 5,000 for those under Dhaka, Chattogram city corporations

The National Board of Revenue (NBR) is likely to introduce self-assessment for companies from 2024-25 to allow them to determine their own tax liabilities and cut reliance on taxmen.

Mobile phone calls and metro rail commutes among other daily activities may cost more in the next fiscal year as the government looks to increase taxes to boost its revenue collections.

DCCI president emphasises the need for automated taxation to increase revenue collection

To overcome the economic crisis, no doubt, the country needs strong economic leadership, backed by strong political will.

The collection of nearly Tk 19,000 crore in direct taxes has been stuck at higher courts owing to cases filed by large corporates, some individuals and taxmen, according to the Large Taxpayers Unit (LTU) of the income tax department

Unlike public sector retirees, private sector employees do not get pensions

Companies and organisations will be required to file tax returns on the income generated by employee welfare funds from the current fiscal year and pay a 27.5 percent tax on the earnings. 

Bangladesh is losing $361 million worth of tax annually owing to the shifting of profits by multinational companies, especially into tax havens abroad, according to a report by the Tax Justice Network (TJN).

Although tax returns are a key document for investigating illegal wealth, the Income Tax Bill 2023 proposes making it impossible for Anti-Corruption Commission officials to access a suspect’s tax files without a court order.

Outward remittances from Bangladesh through legal channels crossed the $100-million mark for the first time in 2021 as more foreigners are working in the fast-growing economy, data from a global organisation showed.

The National Board of Revenue today extended the deadline for income tax return submission till December 31.

Bank accounts with upwards of Tk 1 crore in balance are set to face a higher excise duty next fiscal year as the government looks to collect more taxes from the relatively well-off to get close to the lofty revenue collection target.

The National Board of Revenue should accelerate the use of electronic fiscal devices (EFDs) and ramp up monitoring to eliminate non-compliance with a view to raising more value-added taxes using technologies, said former top taxmen and economists.

There is bad news for consumers of imported luxury items: they will get dearer thanks to the tax measures the National Board of Revenue is preparing for the new fiscal year that begins on July 1.

Although the corporate tax levied on listed firms is lower than that of their non-listed counterparts, many companies in Bangladesh lack interest in joining the stock market as they want to avoid the obligation of ensuring good corporate governance, regularly disclosing financial information and complying with other rules.

One can justifiably expect a lot from our newly inducted finance minister, for he is a chartered accountant by training, a seasoned politician with the experience of holding important public offices

It is befuddling why the National Board of Revenue (NBR) has decided to slap value added taxes that would amount to a 27 percent levy, on the import of solar panels. This is at a time when Bangladesh is set to explore and develop its solar power possibilities through numerous projects. These include solar home systems, solar irrigation and solar power plants in various parts of the country.

The National Board of Revenue has asked the banks to turn in information on all accounts of BNP Chairperson Khaleda Zia, according