Current News

The recently passed Income Tax Bill 2023 on Sunday, includes various changes for individuals, businesses, and corporations. Tax returns have been simplified for everyone. Currently, 29 different types of documentation must be submitted when filing a company’s tax return. It is being reduced to 12. Apart from individuals, all other …

The refiners on Monday requested the government to hike retail prices of packaged sugar by 20% to Tk150 a kilogram, due to high import costs amid rise in its international rates and higher cost for US dollar. They want to sell sugar at this rate to the consumers from June …

Interest caps on banks’ lending will be lifted from July as Bangladesh Bank on Monday issued guidelines. However, the new lending-rate mechanism is based on benchmark reference rate effective from next month. Under the new lending regime, the central bank will fix a reference rate based on the moving average …

Bangladesh Bank Governor Abdur Rouf Talukder considered Moody’s recent downgrade on some local banks as a geopolitical move rather than economic indicator. The central bank governor was responding to a question during the launch of the half-yearly monetary policy statement (MPS) starting next month. He said the international credit rating …

The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries, IMF Managing Director Kristalina Georgieva said on Monday. FE “CBDCs should not be fragmented national propositions… To have more efficient and fairer transactions we need systems that connect countries: …

The National Board of Revenue has extended the tax exemption facility till 2036 to the private sector power generation companies which will go into commercial operation between June 30, 2024 and June 30, 2025. The income tax wing of the revenue board on Tuesday issued a gazette notification in this …

The Bangladesh Bank has decided to launch a taka-rupee debit card in the country in September to allow travellers to make payments through the card at home as well as in India. The card will allow individuals to make local payments as well as settle payments in the Indian rupee …

Most of the readymade garment (RMG) manufacturers have paid the wages and Eid bonuses on or before April 19, said the Industrial Police and the industry insiders. Moreover, there have been no complaints regarding the payments of wages, allowances and bonuses to the workers of the RMG sector ahead of …

The demand for cash withdrawal has surged before Eid raising the call money rate for interbank transactions. According to Bangladesh Bank website data, the average call money rate increased from 5.99% to 6.19% between April 2 and April 18. Data also shows that the lowest interest rate during this time …

Economists have praised the move to adopt alternative currencies, such as the Indian Rupee and Chinese Yuan, in foreign projects and bilateral trade to ease the foreign exchange reserve. As of Tuesday, the forex reserve stood at $31.11 billion, with the balance of payment in a tight situation due to …