Real-Estate & Infrastructure

Cabinet has asked National Board of Revenue to work on whether import duty on edible oil can be reduced ahead of Ramadan. “The import duty is 15%. NBR has been asked to check how much of it can be reduced,” said Cabinet Secretary Khandakar Anwarul Islam. At a briefing, he …

Finance minister AHM Mustafa Kamal on Thursday said that the Bangladesh government had waived valued added tax from soya bean oil. He revealed the government decision after a meeting of the cabinet committee on government purchases virtually. He said VAT had withdrawn from the items needed mostly during the month …

Soybean oil imports, both in crude and seed forms, declined marginally in Bangladesh in the current fiscal year as businesses are cautious in buying the raw materials at higher volumes despite surging prices of edible oil locally amid concerns that higher prices would drive down consumption. But an increase in …

Prime Minister Sheikh Hasina today said food security is surely the most pressing issue for the people in Asia and the Pacific region. She was virtually addressing the inaugural session of the meeting of ministers in the 36th Regional Conference for Asia and the Pacific of the UN’s Food and …

The hard-rock mined by Maddhapara Granite Mining Company Limited (MGMCL) in Parbatipur upazila of Dinajpur is getting costlier for end-users as dealers are charging higher rates than that of the state-run company. MGMCL, which commenced commercial hard-rock mining in May 2007, belongs to Petrobangla, another state-run company that manages mineral …

No refiners and wholesalers would be allowed to sell edible oil without providing a money receipt to the buyers from Friday, according to a decision of the Directorate of National Consumer Rights Protection. The decision came from a DNCRP meeting with wholesalers and retailers on Tuesday on the supply and …

Padma Bridge and its rail link on the Bhanga-Mawa section are not going to open to the public on the same day as rail line installation on the bride has not yet started because of ongoing gas pipeline work. The government has a plan to open the Padma Bridge by …

National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem has said that widening the tax net is a must for easing the tax burden. He also said that ensuring compliance of the corporations is essential for better operations of businesses and VAT collection. The NBR Chairman said this …

The National Board of Revenue (NBR) has extended its reduced tariff benefit for importing raw sugar until May 15 so that consumers can buy the sweetener at reasonable prices during the upcoming month of Ramadan. As such, refiners can import raw sugar by paying 20 per cent regulatory duty instead …

An effective VAT audit system based on integrated audited accounts may be introduced where CMAs can play a vital role as a catalyst to the taxman. A comprehensive reform of the value-added tax (VAT) regime and automation can facilitate it for both taxpayers and businesses. Speakers said this at the …