Directors’ loan in listed cos made taxable

Any loan disbursed to its directors by a company, be it publicly listed or non-listed, will be considered their taxable income under provision of the proposed budget for the fiscal 2024-25. The Finance Bill 2024 provides that if a company...

A brief note on FY25 fiscal measures

In the national budget for the fiscal year 2024-25 (FY25), some changes proposed to provide relief to low & middle-income groups, and to impose higher rates of taxes to high income groups. Retrospective to prospective tax system introduced for proper...

Danger of treating black money softly

'Black money', according to Investopedia,'includes all funds earned through illegal activity and otherwise legal income that is not recorded for tax purposes'. The sources of black money, as defined, include tax evasion as well as corruption, money laundering and illicit...

Our varsities: focus should be on quality, not number

It's been known for long that one of the major problems facing the country's private universities is the lack of permanent campuses. The University Grants Commission (UGC) - the government body responsible for regulating tertiary education - has long been...

Now, big ships berthing at Matarbari deep-sea port

CHATTOGRAM, June 08: A total of 135 ships have already berthed at the jetty of Matarbari deep-sea port channel at Maheshkhali in Cox's Bazar.Sources have said 175-metre and 10-metre draught ships  are getting the berthing facilities at the port jetty.When...

NBR freezes bank accounts of three firms, recovers Tk 2.69b

State-owned Jamuna Fertilizer Company Ltd, despite being profitable and holding huge amounts in fixed deposit receipts (FDRs), had not settled its taxes for around nine years.Their tax delinquencies met with an unprecedented enforcement this month. In an unprecedented move, taxmen...

Drug makers, consumers have to wait to reap benefits from tax waivers

The proposed tax waivers for imports of some raw materials for FY25 will benefit both consumers and drug manufacturers only after the industry gets an environment conducive to business growth, stakeholders says. The high dollar-taka exchange rate has escalated production...

Marathons gaining popularity among youths in Dhaka

Running has always been a simple yet effective method to stay fit, but the growing popularity of marathons among Dhaka's youths is elevating this activity to new heights. Marathons not only provide physical benefits, but they also bring people together,...

Fiscal framework of FY25 budget

The budget for the fiscal year 2024-25 (FY25) has been presented by the new Finance Minister of the newly elected government. This budget is also the last budget of the Eight Five Year Plan (8FYP) of Bangladesh. The budget has...

Budget recognises inflation, skips jobs

As in previous years, the proposed national budget for the next fiscal year has triggered exciting discussions among the various stakeholders. The pre-budget debate has now transformed into post-budget analyses. Some have started to criticise the proposed budget, which was...

Beyond parents, spouses and kids, pay tax for your presents

Any gifts given outside of parent-child, spousal and child-parent relationships would be subject to taxation, as per fiscal measures in the proposed budget for the fiscal year 2024-25.The Finance Bill-2024 excludes gifts between parents, spouses and children from the tax...

Govt forms committees to coordinate Eid animal hide management

With an estimated 13 million cattle ready for sacrifice nationwide during the Eid-ul-Azha, the government is ramping up efforts ahead of the religious festival to ensure the smooth management of animal hides and skins. The Ministry of Commerce issued official...

Legal battle over payment likely to hinder project progress

The Dhaka-Ashulia Elevated Expressway project -- a 24-kilometre overhead highway stretching from Dhaka Airport to Dhaka EPZ in Savar -- has plunged into legal dispute over payments, eventually risking the project progress. The project's main contractor China National Machinery Import...

Commoners in Ctg fear price escalation

CHATTOGRAM, June 07: Ordinary people in Chattogram are not bothered about the 2024-25 fiscal budget, but what concerns them is the price hike of commodities and rampant corruption in projects.The spending power of the common people has been decreasing under...

Cattle farms defy all odds to provide for country

Gone are the days when the Muslims with means willing to sacrifice animals had to wait anxious moments for days before the Eid-ul-Azha. Cattle brought in---legally or illegally --- from neighbouring India and Myanmar primarily decided the supply of sacrificial...

Capital gain tax will go up to 30pc

Individual investors are going to be subject to scrutiny of their beneficiary owner's (BO) accounts by the revenue authority for the first time ever for capital gain tax for FY25. According to the proposed budget unveiled by the finance minister...

Budget earns appreciation from Ctg business bodies

CHATTOGRAM, June 06: Both the Chittagong Chamber of Commerce and Industry (CCCI) and the Chittagong Metropolitan Chamber of Commerce and Industry (CMCCI) welcomed the proposed budget for the next fiscal year, praising its "pro-people and business-friendly".The Chittagong chamber appreciated the...

'Bold steps' missing in budget

Economists find the absence of "bold actions" in the proposed fiscal budget to tackle the challenges the economy has been facing for quite a long period.They see a lack of proper steps to manage inflation and bigger deficit in budget,...

Blanket opportunities to whiten black money

Now corporate taxpayers are free to show their undeclared assets, for the first time, from July 1 as the government offers blanket whitening of 'black money' in the new budget. Pay 15-percent tax and bring out the hidden untaxed money...

Still time to make peace with Nature

The planet's critical ecosystem is yet to claim its rightful place in the collective consciousness of the peoples across the world. But the United Nations Environment Programme (UNEP) under the aegis of the UN has been observing the World Environment...

Semiconductor boom-hope or hype?

In his book "Chip War: The Fight for the World's Most Critical Technology," noted American economic historian Chris Miller, argues, "Microchips are the new oil. This vital and precious resource has an even more profound impact on people's lives than...

Amid burdensome taxes, undisclosed money to bring cheers to equity market

Any hope of the stock market emerging from the pit of despair has been dashed by all the fiscal measures considered by the government for the upcoming year to increase revenue. One of the measures is to impose capital gain...

Elephant overpass built at Chunati sanctuary in Ctg

CHATTOGRAM, June 05: A decade after the government launched a groundbreaking initiative, a long-cherished dream of establishing a rail link between Cox's Bazar and Chattogram has now come true.For the first time in Bangladesh, an overpass for elephants has been...

New fiscal measures may fuel income inequality, inflation

Income inequality and inflationary pressure both may stoke up to afflict commoners as government' finance authority may bank on indirect and regressive taxation in a bigger way, economists predict. The government may not offer any new waiver on VAT, known...

Good elections firm up democracy

Good elections anywhere cheer the soul. A good election underscores the principle of democracy in a society, enables citizens to reassert their dominance as the repository of power in a state. And those elected to office hold that power in...

BD makes strides in land restoration

The theme for World Environment Day 2024 is "Land Restoration, Desertification, and Drought Resilience." This year emphasises the critical importance of restoring degraded lands, combating desertification, and building resilience for the extreme consequences brought out by climate change with the...

Killing two birds with one stone

The Bangladesh Government has set ambitious targets to ramp up renewable energy integration in Bangladesh. Bangladesh intends to reduce carbon emissions by 6.73 per cent as a signatory to the Paris Agreement and in accordance with its Nationally Determined Contributions...

Debt funds to pay dividends for FY24, having enjoyed favourable climate

Funds designed to invest in risk-free securities have generated positive returns for FY24 while other mutual funds having a larger share of the money in equity securities endured erosion of assets in the year. Hence, the MFs that concentrate investments...

Farmers selling paddy at throwaway prices

Floods in the eastern region have posted further deterioration, putting farmers in perils as they are struggling hard to stock the paddy they harvested two weeks back.At least 0.75-million people got marooned in entire Sylhet and parts of Sunamganj and...

Govt backpedals on ICT tax benefit cuts

The government has backtracked on its move to phase out tax benefit from the Information and Communication Technology sector in a bid to facilitate its growth, considering its untapped potential.In the budget for the next fiscal year, the National Board...