Finance News: Latest Financial News, Finance News today in Bangladesh

Inflation target set at 6pc for FY24

Although Finance Minister AHM Mustafa Kamal has considered inflation control as one of the big challenges, he wants to keep already-runaway price increases within a 6.0-per-cent limit in the next fiscal year with no brand-new strategy."The adjustment of fuel prices in the domestic market and government initiatives to keep the...

Accommodative policy to fix volatility will stay: Kamal

The government will continue with its cautious and accommodative policy to tackle instability in balance of payments (BoP) and foreign-exchange reserves in fiscal year (FY) 2023-24.On the other hand, the central bank, as part of the government's plan to remove defaulted loans and other anomalies in the financial sector, will...

Budget share of broader agriculture cut to 5.7 pc

Share for the broader agricultural sector, including crop, fisheries, livestock, farm subsidy and incentives, has been reduced to 5.73 per cent in term of total outlay of the next budget (FY'24) from 6.19 per cent in the proposed budget for FY'23.A total of Tk 437 billion has been allocated for...

Universal pension scheme rollout expected next FY

Finance Minister AHM Mustafa Kamal said the universal pension scheme is likely to come into effect in the next fiscal year.The work on intruding the scheme has progressed substantially, he said in his budget speech on Thursday."I hope, it will be possible to roll out the scheme from FY2023-24," the...

Tax-free ceiling rises to Tk 40m

The fiscal year (FY) 2023-24 budget has offered a benefit for well-off people through raising their tax-free limit for wealth surcharge.The limit for surcharge has been proposed to be raised to Tk 40 million from existing Tk 30 million.According to the proposed Finance Bill-2023, minimum surcharge rate would be 10...

BERC cuts LPG prices by 13pc

The Bangladesh Energy Regulatory Commission (BERC) slashed liquefied petroleum gas (LPG) prices by 13 per cent on Thursday for selling the fuel to clients by private operators in June. The country's private operators will now charge Tk 1,074 for each 12-kg cylinder, down by Tk 161 from May's retail price...

Govt raises land transfer tax rates

The government has raised the rate of tax by around 100 per cent on transfer of per khata (1.65 decimal) of land and building located in commercial and other areas.To this effect, the National Board of Revenue (NBR) issued a statutory regulatory order (SRO), dated May 23, 2023.With the latest...

Mobile handsets get costlier

Mobile handsets are getting costlier as the government has decided to impose a value-added tax (VAT) of up to 7.5 per cent on locally manufactured and assembled mobile phones, based on their status. The national budget for the 2023-24 fiscal year has also proposed an increase in import duties for...

Pay carbon tax for another car

The budget for fiscal year 2023-24 has proposed 'carbon tax' for the first time for the taxpayers who own more than one motor vehicle.According to the proposed Finance Bill, carbon tax ranging from Tk 25,000 to Tk 0.35 million has been proposed for each after owning the first motor car...

Source tax remains unchanged

The source tax on export proceeds has remained unchanged in the proposed budget for the upcoming fiscal despite the fact that exporters, including readymade garment industry, have been demanding the lowering of the rate. Neither the finance bill nor the budget speech has mentioned any change regarding the rate. According...