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NBR plans high customs tariff

Aiming at providing better services to traders and investors, the National Board of Revenue (NBR) is going to enhance the current fees and charges for various services related to customs procedures. Under a four-year customs modernisation strategic action plan, the board will also carry outa study t...

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Prodigious remittance from Mideast expatriates

The prodigious flow of remittance from expatriates working in the Middle-eastern countries, has reinforced the overall outlay of the country’s remittal money. According to a latest report of the Bangladesh Bank’s monetary policy division, Bangladeshi workers from the seven countries...

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Govt to modernize Benapole land port

In order to streamline the revenue collection and expedite the trade activities, the government has taken an initiative to modernize the country’s largest land port, Benapole. As part of the initiative, the government is going to build a state-of-the-art cargo vehicle terminal there spending a...

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Demand for old cars lowers

Despite people’s economic solvency and banking facilities, the demand of reconditioned cars in the country has significantly declined, sources said. According to sources in customs wing of National Board of Revenue, the reconditioned car import declined 29 percent or 9500 units in the just con...

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NBR Customs wing registers poor growth

Despite a 10.7 percent year-on-year revenue collection growth in the just concluded financial year (2018-19), the National Board of Revenue (NBR) registered a very poor growth during the period. The customs department in that fiscal, collected a total of Tk 63,382 crore, registering only 3 percent g...

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NBR to modernize VAT automation

The National Board of Revenue (NBR), with an aim to streamline the automated Value-added Tax regime, has decided to engage more software firms to implement the use of Electronic Fiscal Devise (EFD) within a very short period. The revenue board, earlier, appointed 11 firms to purchase or develop this...

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Stern action against corrupt tax officials

Admitting a number of revenue officials’ corruption, the National Board of Revenue (NBR) Chairman Mosharraf Hossain Bhuiyan urged businessmen to inform them if any tax officials demand bribe. “Please complain directly to our head office if any case occurs,” he said adding that they...

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BIN holders must update info: NBR

The country’s businesses will mandatorily have to update their business information with the NBR’s online VAT server to keep their electronic Business Identification (e-BIN) active. The National Board of Revenue has set a timeframe until July 31 next for those who earlier obtained nine-d...

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Tk 2.22 lakh crore revenue in FY19

The National Board of Revenue has collected a total of Tk 2.22 lakh crore in the 2018-19 financial year. The revenue board, as per this estimation, registered 7.76 percent growth in collection over that in the corresponding year. The central tax authority in the FY18 could collect Tk 206,407 crore a...

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Visitors to be brought under more vigilance

In order to check possible intrude of any suspected Bangladeshi expatriate with alleged engagement with militant organization, the government is going to enforce additional measures in all airports by tightening the security system. As part of it, the National Board of Revenue (NBR) has decided to i...

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Govt determined to modernise railway

As per Prime Minister Sheikh Hasina’s directive, the ministry of railways has taken all out measures to repair the all identified risky railway bridges, culverts and tracks as well across the country. Earlier on Tuesday the Prime Minister ordered to conduct a countrywide structural survey on r...

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Govt moves to stop capital flight

The government is going to bring five major channels including the banking sector under strict monitoring in order to intercept capital flight, sources said.The National Coordination Committee for Preventing Money Laundering and Terror Finance has taken this decision at its last meeting held recentl...

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Major changes likely in budget

The government is set to bring some changes to the proposed budget for fiscal 2019-20, considering the welfare of middle class people, business community and capital market, finance ministry sources said. Prime Minister Sheikh Hasina is likely to explain the changes in the parliament on June 30 when...

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NBR to collect Tk 2,092cr more

Ahmed ShahinThe National Board of Revenue (NBR) has aimed at earning Tk 2,092 crore more revenue in the upcoming fiscal (2019-20) by scrapping Vat (value added tax) exemptions enjoyed by some sectors including telecom for import of machineries.The revenue board has estimated to earn Tk 1,000 crore a...

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NBR targets add’l Tk 7000cr from cigarette

The National Board of Revenue has planned earning Tk 7,000 crore more only from the rise in tax on cigarette prices in the upcoming fiscal 2019-20, sources said. A highly-placed NBR official told Bangladesh Post they would employ required number of officials for ensuring the extra amount of revenue ...

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Meter holders must have TIN

The National Board of Revenue has decided to bring all electric holding meter possessors in the city areas under the tax net to ensure tax compliance and increase revenue collection. As part of the move, the revenue board from the upcoming fiscal will make the Tax Identification Number (TIN) mandato...

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NBR eyes raising VAT collection

The National Board of Revenue, in order to streamline Value-added Tax collection, eyes ensuring compliance with source tax deduction, sources said. The VAT wing of NBR has recently issued a Statutory Regulatory Order (SRO) mentioning specific rules and regulations with regard to source tax deduction...

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Electronic device to check tax dodge

The National Board of Revenue will officially introduce the Electronic Fiscal Device (EFD) from the next fiscal to streamline the revenue collection and intercept tax dodging. According to NBR sources, 25 types of business sales points will mandatorily have to use this device to keep the documents o...

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NBR to modernize income tax unit

The National Board of Revenue, to streamline the income tax regime, will implement a fascicle of initiatives in the upcoming financing year (2019-20), to increase the share of this direct tax to 50 percent of the total revenue by 2021. The government will announce the national budget for the fiscal ...

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RMG export to USA growing

The country’s export of Readymade Garments to foremost destinations shows upward trend in the ongoing year, keeping past few years’ nightmarish experiences behind. The USA, the single largest export destination of Bangladeshi RMG products, is showing hope for upcoming days as the country...