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NBR tightens grip on vehicle-hiring scope for taxmen

DOULOT AKTER MALA | 2020-07-06 00:00:00

The National Board of Revenue (NBR) has tightened the vehicle-hiring scope for taxmen from this fiscal, creating difficulties for field-level tax inspection.From now on, tax, VAT and customs officials will need to obtain finance ministry's approval to hire a car...

Cruelty thy name is landlord

Neil Ray | 2020-07-06 00:00:00

At a time quite a few house owners or landlords in the capital city decided to forego rents of their flats without asking, there are reports of eviction of tenants accompanied with inhuman treatment. Indeed, with the pandemic forcing an...

Unpalatable yet essential move

Shamsul Huq Zahid | 2020-07-06 00:00:00

The latest government decision to close down all the state-owned jute mills, unpalatable though, has been long overdue. The decision, undoubtedly, would render thousands of workers jobless in one of the most difficult times in human history. These mills like...

Dhaka University is in need of reinvention

Syed Badrul Ahsan | 2020-07-06 00:00:00

Dhaka University will be a hundred years old next year. The enthusiasm that will go into the celebrations of its centenary are already being felt, a broad hint of it being the manner in which current and former alumni cheerfully...

NBR curbs bond licensing

DOULOT AKTER MALA | 2020-07-05 12:00:00

The National Board of Revenue has tightened rules for issuing licences to the exporters for availing bonded warehouse facility so that its abuse can be checked.The board has imposed new conditions for exporters to secure duty-free benefit against raw materials...

Sonali Bank fears profit slumps

SYFUL ISLAM | 2020-07-05 12:00:00

Sonali Bank fears its operating profit will slip by Tk 8.0 billion this year as fallout of the Covid-19 pandemic, causing further capital shortfall. The country's biggest state lender made some Tk 19 billion as operating profit in 2019, but...

How health workers are doing their duties

ABM Kamrul Hasan | 2020-07-05 00:00:00

Dhaka Medical College Hospital authorities have submitted a bill of Tk 20 crore for their health workers to stay, eat and transport at the hotel in two months. The brawl has started. The issue has spread from social media to...

Ctg Customs House misses FY '20 tax collection target

Nazimuddin Shyamol | 2020-07-04 00:00:00

CHATTOGRAM, July 03: The Chittagong Customs House (CCH) has failed to achieve the target of collection of taxes in the just-ended fiscal year (2019-20).Last year, the National Board of Revenue (NBR) fixed a Tk 582.98-billion (Tk 58,298 crore) tax collection...

A tribute to Poet Mashuk Chowdhury

Helal Uddin Ahmed | 2020-07-04 00:00:00

An outstanding poet of the country, first appearing on the literary scene in the decade of 1960s, Poet Mashuk Chowdhury (1947-2020) recently passed away to the other side of the rainbow. He was born in the then Brahmanbaria sub-division of...

BO accounts decline 9.0pc in outgoing fiscal year

Babul Barman | 2020-07-04 00:00:00

The number of beneficiary owners' (BO) accounts dropped 9.10 per cent in the outgoing fiscal year (FY) 2019-20 due to non-payment of annual renewal fees, strict regulatory move and depressed capital market outlook.The total number of active BO accounts came...

Late Soviet America

Harold James | 2020-07-04 00:00:00

The Soviet Union was fertile ground for political jokes, which featured as prominently in the culture as late-night comedy does in the United States. According to one popular story, a young man who shouted in Red Square that the decrepit...

Celebrating a national doctors' day

Nilratan Halder | 2020-07-03 12:00:00

Pictures carried in time of this raging pandemic, more often than not, tell the saddest tale. Quite a few of those make powerful statements about the eternal bond that sustains humanity. Such pictures transcend the boundary of mere performance of...

BD-Japan Jt Platform meet likely at July end

Munima Sultana | 2020-07-03 00:00:00

The scope to reconvene the Bangladesh-Japan Joint Platform meeting has been created after both sides at a meeting agreed to continue existing projects and explore investment opportunity for new ones.As per the discussion between the two sides on June 25,...

Remittance rises 11pc in FY '20

Siddique Islam | 2020-07-03 00:00:00

The inflow of remittances grew by nearly 11 per cent to a record US$ 18.20 billion in the just-concluded fiscal year (FY) despite the ongoing Covid-19 pandemic, officials said.The figure jumped from $ 16.42 billion in FY 2018-19, according to...

Large taxpayers power NBR

Doulot Akter Mala | 2020-07-03 00:00:00

Corporate tax payment by large taxpayers jumped by over 15 per cent during the just-concluded fiscal year, despite COVID-induced economic devastation.The growth is the highest in seven years, officials said.Despite the COVID-19 pandemic, the unit under the National Board of...

Bulk-heads illegally carrying coals, stones from mother vessels

NAZIMUDDIN SHYAMOL | 2020-07-03 00:00:00

CHATTOGRAM, July 02: A section of importers are using bulk-head vessels instead of lighterage ships in carrying goods from mother vessels and big ships from the Outer Anchorage of Chittagong Port violating the law, putting other ships in the port...

Covid tests, ordeals and the poor

Shamsul Huq Zahid | 2020-07-03 00:00:00

Nearly four months have gone by since the detection of the first case of novel coronavirus in the country on March 08 last. Yet problems concerning the issue of covid-19 tests have not subsided. The number of Covid tests continues...

Settling Bangladesh economy into the Covid-19's new normal

Muhammad Shafiullah and Sk. Zohirul Islam | 2020-07-03 00:00:00

In Bangladesh, we are currently caught in a dilemma between life and livelihood. It is essential to save lives as well as ensure livelihood in the foreseeable future. It is uncertain how long the COVID-19 pandemic is going to linger....

Endeavours to proliferate AI in retail market

Mohammad Saiful Islam | 2020-07-02 00:00:00

It was the summer of the year 1993. Mohammad Oli Ahad, just another boy from Dhaka was bracing up for his SSC result to come out. At that time, he took a stiff decision that was quiet unlikely for a...

DSEX tumbles 26pc in outgoing fiscal year

BABUL BARMAN | 2020-07-02 00:00:00

The stock market passed yet another gloomy year as the core index of the Dhaka Stock Exchange (DSE) eroded more than 26 per cent in the outgoing Financial Year (FY) 2019-20.After the stock market crash in 2010-2011, the government came...

Non-compliant firms face penalty

Doulot Akter Mala | 2020-07-02 00:00:00

Businesses and shops may have to face penal action for not displaying VAT registration certificates on their premises from now on.The Value Added Tax implementation wing of the National Board of Revenue or NBR ordered the field-level officials on Tuesday...

HI operating profits of a number of PCBs plunge

Siddique Islam | 2020-07-02 00:00:00

Operating profits of a number of private commercial banks (PCBs) dropped significantly in the first half of the current calendar year. The decline in profit is largely attributed to the fixation of single-digit interest rate from April 1 last.The Covid-19...

Corona-induced fault-lines in Bangladesh economy

Helal Uddin Ahmed | 2020-07-02 00:00:00

The Covid-19 pandemic has wielded a devastating impact on the country's socio-economy during the past quarter, weakening and exacerbating numerous fault-lines and vulnerabilities that existed in various sectors. That becomes evident from a review of findings released during recent days.Take...

Reforming system of parliamentary oversight

Taiabur Rahman and Lamia Mohsin | 2020-07-02 00:00:00

The post-budget placement period in June brings with it an inundation of various analyses, scrutinies and assessments of the most important policy document of the year. As a clear reflection of the political commitment of the government, the budget-making process...

Traffic movement over Buriganga bridge resumes on limited scale

Munima Sultana | 2020-07-01 00:00:00

Roads and Highways Department (RHD) resumed traffic movement on the damaged bridge over the river Buriganga on limited scale Tuesday night after getting green signal from its expert team on reopening.Additional Chief Engineer of Dhaka Zone Mohammad Sabuj Uddin Khan...

BSEC seeks banks' reports on spl funds

MOHAMMAD MUFAZZAL | 2020-07-01 00:00:00

The securities regulator has sought information from all listed and four non-listed banks regarding their formation of special funds worth Tk 2.0 billion each as announced earlier to support the capital market.Besides, the banks which have already formed the fund...

NBFIs seek Tk 100b liquidity support

SIDDIQUE ISLAM | 2020-07-01 00:00:00

Top executives of the non-bank financial institutions (NBFIs) have sought Tk 100-billion emergency support from the central bank to meet liquidity requirements amid the COVID-19 pandemic.The support was sought in a meeting with the leaders of Bangladesh Leasing and Finance...

Stimulus loan: VAT return condition scrapped

Doulot Akter Mala | 2020-07-01 00:00:00

The VAT intelligence wing on Tuesday backtracked from its move to make the return submission mandatory for bank loan applicants.The wing scrapped its previous decision so that affected businesses can avail the stimulus cash doled out by the government to...

DNCRP finds four reasons behind rice price hike

REZAUL KARIM | 2020-07-01 00:00:00

Government monitoring teams have identified increase in transport costs, price hike by rice millers, and massive purchase of paddy from the farmers as possible reasons for a recent surge in rice prices, officials said.The teams of state-run Directorate of National...

Most listed banks' EPS up in Q1

BABUL BARMAN | 2020-07-01 00:00:00

Earnings per share (EPS) of most of the listed banks marked rise in the first quarter (Q1) for January-March, 2020 compared to the same quarter of the previous year despite Covid-19 pandemic.EPS is the portion of a company's profit that...