Real-Estate & Infrastructure

Some 2.85 million individual taxpayers submitted their returns in the first half of FY23 while the National Board of Revenue (NBR) collected Tk4,100 crore as income tax. Submission of income tax returns this year grew by 23.98% while revenue collection also increased by a healthy 24.96%. According to data from …

The state coffers were robbed of Tk 258 crore for 26 counts of irregularities by the Chattogram Port Authority between fiscal 2017-18 and 2019-20, found the Comptroller and Auditor General (CAG). The irregularities include violations of Public Procurement Rules 2008, Income Tax Ordinance 1984, National Board of Revenue’s order and …

Private sector credit growth rose to 13.97 per cent in November to near the central bank’s target for the ongoing financial year owing to cheaper loans, a development that may stoke inflationary pressures. The Bangladesh Bank has aimed a 14.1 per cent credit expansion for 2022-23, which began in July. …

Agriculture Minister Dr Md Abdur Razzaque urged the country’s agriculturists to develop a ‘smart agriculture’ based on modern science and technology, saying that the country has already witnessed a revolution in the agriculture sector. “The biggest revolution in the country has taken place in the agriculture sector. After independence, 1.10 …

People can now pay all fees of Bangladesh Road Transport Authority (BRTA) in the comfort of their home through Nagad – a mobile financial service of Bangladesh Postal Department. To this end, an agreement was recently signed between Nagad and Computer Network Systems (CNS) Limited, a digital payment service provider …

Though the government has made mandatory the submission of tax returns to get more than 40 services, the response remained poor. The National Board of Revenue (NBR) extended time twice for return submission in the fiscal year 2022-23, despite this move, the number of returns remained around 30 lakh out …

Bangladesh’s readymade garment workers are receiving monthly wages on average 50 per cent lower than the minimum living wages, according to a study conducted by South Asian Network on Economic Modeling and the Microfinance Opportunities. The report released on Sunday said that workers had been increasingly relying on overtime and …

For the first time since December 2020, private sector borrowing from external sources declined as the appetite among firms eroded for increased borrowing costs. Firms’ total external debt dropped 2 per cent to $25.4 billion at the end of September 2022 from 25.95 billion in June. At the same time, …

Prime Minister Sheikh Hasina yesterday asked businesspeople and industrialists in Bangladesh to at least pay the cost of generating and procuring electricity and gas if they want to avail an uninterrupted supply of energy. “If you want uninterrupted electricity and gas, then you have to at least pay the production …

The National Board of Revenue (NBR) may retain a VAT reduction of 5 per cent on edible oil for four more months to April 30 so that consumers do not feel the burden of the indirect tax on prices, said a senior official yesterday. “We are working to keep the …