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

Transport sector gets Tk 694.17b

Some Tk 694.17 billion has been proposed in the budget for the transport and communication sector to introduce more mega projects as well as to complete the Padma Bridge construction in the fiscal year (FY) 2021-22.The proposed budget for the upcoming FY is 12.18 per cent higher than the budget...

CCCI terms budget business-friendly

CHATTOGRAM, June 03: Chittagong Chamber of Commerce and Industry (CCCI) today (Thursday) welcomed the budget for the next fiscal year (FY2021-22) and termed it pro-people and business-friendly one. "The budget is for life and livelihoods," CCCI president Mahabubul Alam said, adding that the budget is a dream towards development of...

'Made in Bangladesh' brands get tax break

Bangladesh has announced a 10-year tax exemption for 'Made in Bangladesh' brands in the year starting Jul 1, reports bdnews24.com."The government is pledge-bound to nurture the 'Made in Bangladesh' brand to accelerate establishment of mega industries and production of import-substitute industrial goods in the country," said Finance Minister AHM Mustafa...

Corporate tax reduction will boost companies' profitability

The government has proposed no new incentives, other than the reduction in corporate tax for the listed companies, for stock market investors in the upcoming budget.The securities regulator and the market operators, however, hailed the reduction in corporate tax saying that this facility will boost the companies' profitability.Corporate tax for...

Tax rate for company and others

Govt raises customs duty on imported handsets

The proposed budget for the fiscal year 2021-22 put forward a number of fiscal measures to boost local ICT and IT-enabled services including imposing duty on imported cellular handsets and concessionary facilities for import of computer accessories and raw materials. In the proposed budget, the government has raised customs duty...

MFS to count 37.5pc tax

Finance minister AHM Mustafa Kamal has proposed 37.5-per cent corporate tax for publicly-traded mobile financial service (MFS) providers in the proposed budget for fiscal year 2021-2022.The current tax rate is 32.5 per cent.Besides, Mr Kamal has proposed 40-per cent tax from the existing 32.5 per cent for non-publicly traded MFS...

Power plants to pay source tax

The power plants will have to pay source tax from next fiscal year against their sale of electricity as the finance minister proposed the new tax measure at 6.0 per cent Thursday.Earlier, the source tax was applicable only to rental power plants.The new tax measure will, however, not be applicable...

Higher import duties on cattle meat to save local producers

Responding to local cattle meat producers, the government imposed higher import duties on meat of bovine animals.Local vegetable growers also have got budgetary gifts as higher duties have also been slapped on carrot, turnip and mushroom import.A 20 per cent of supplementary duty (SD) and 15 per cent of value...

5pc advance income tax on fruit import

The government has imposed 5.0 per cent Advance Income Tax (AIT) on import of all types of fruits, cash registers and propellers in the proposed budget for fiscal year 2021-22.AIT on import of liquor, perfume has been proposed to increase to 20 per cent from the existing 5.0 per cent.Withholding...

Apparel sector entitled to export, other incentives

The country's readymade garment sector will continue to receive the 1.0 per cent additional export incentive along with other facilities in the next fiscal year.Announcing this in his budget speech on Thursday, Finance Minister AHM Mustafa Kamal attributed the sector's success in coping with effects of the pandemic to the...