Briefing 2023-05-12

Tax incentive removal: why the proposal raises concern over long-term financing
For yearly income of Tk 600,000 a taxpayer has to pay Tk 25,000 tax to the government exchequer. But if he/she has invested up to TK 120,000 out of the income in the secondary market, the yearly tax payment will be reduced to Tk 7,000 with Tk 18,000 rebated. Thus, the investor can have a big chunk of tax -- 72 per cent in here -- saved. Page 9
Ukraine to get long-range missiles from UK
The UK has confirmed it is supplying Ukraine with long-range missiles it requested for its fight against invading Russian forces. The Storm Shadow cruise missile has a range of over 250km (155 miles), according to the manufacturer. By contrast, the US-supplied Himars missiles used by Ukraine only have a range of around 80 km (50 miles). Page 14
Tigers face Ireland today in 2nd ODI
Bangladesh hope the rain to stay away and allow them to play the second game without an interruption as they eye to take a lead in the three-match ODI series, to be held at County Ground, Chelms-ford today (Friday). The first match was washed out due to rain after Bangladesh apparently kept them in a position of dominance. Page 15
BGMEA urges lowering source tax to 0.5pc
The apex apparel body BGMEA has urged the government for a reduction in source tax at 0.50 per cent from existing 1.0 per cent in the next budget. The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) suggests that the proposed rate stay for the next five years. Page 17