Govt losing large amount in taxes as DPI providers not under tax net
The government is losing large amount of money in taxes as many of the foreign companies are supplying products to Bangladesh directly through their local agents without being registered locally, industry insiders said.
The Direct Proforma Invoice (DPI) providers running large-scale business here, but they are not under the existing income tax net.
Such discriminatory policy creates uneven competition in the indenting businesses too, sources said.
Registered indenters are complying with the existing tax rules and paying, both individual and corporate income tax, while DPI providers are not doing so.
Malaysia to build 22,000 apartments in Bangladesh
Malaysia will help Bangladesh in construction of 22,000 apartments in capital Dhaka and a flyover connecting Dhaka with Rajuk’s Jhilmil housing project.
The Malaysian assistance will come under a Memorandum of Understanding the two countries signed in Dhaka on Tuesday, reports UNB.
Under the MoU 12,000 apartments will be built at Uttara while 10,000 at Kamrangichar.
A 13-kilometer flyover will be built connecting Dhaka’s Shantinagar to Jhilmil housing project in Keraniganj.
Housing and Public Works Minister Engineer Mosharraf Hossain and Mala...
Under the MoU 12,000 apartments will be built at Uttara while 10,000 at Kamrangichar.
A 13-kilometer flyover will be built connecting Dhaka’s Shantinagar to Jhilmil housing project in Keraniganj.
Housing and Public Works Minister Engineer Mosharraf Hossain and Mala...
External trade openness crucial for growth: Atiur
Bangladesh Bank governor Dr. Atiur Rahman on Tuesday underlined the need for openness for growth in the regional and global trade.
He was speaking at the inaugural session of “the SAARCFINANCE seminar on Management of external sector openness-South Asian country experiences”.
Atiur said external trade openness frees up efficient domestic producers from demand limitations of the local markets.
SAARCFINANCE Cell and Bangladesh Bank jointly organised the seminar with Abu Hena Mohd Razee Hassan in the chair, reports UNB.
The sem...
The sem...
Poll unrest deals economic blow
The country’s economy lost Tk. 108.5 billion ($1.4 billion) during the violent run-up to the January 5th general election, according to the World Bank.
The service sector represented 86% of losses, followed by 11% in industry and the rest in agriculture, due to the political turmoil and uncertainty during 2013’s last quarter, the bank reported in its “Bangladesh Development Update”, released April 9th.
The loss equals nearly half the total estimated cost of Tk. 226 billion ($2.92 billion) to build the ...
The loss equals nearly half the total estimated cost of Tk. 226 billion ($2.92 billion) to build the ...
Discover a unique experience in Bangladesh
During the yearly south Asian monsoon, almost all the water collected by the Himalayas in Nepal, north/northeast India and Bhutan transits through Bangladesh on its journey to the Bay of Bengal, depositing life-giving minerals to the soil all along the Ganges Delta, the largest river delta in the world. It is here that the mountains literally crumble to the sea.
This has resulted in Bangladesh’s flatland alluvial topography, which is the defining characteristic of the country except in the hilly regions of the southeast and northeast. The mighty Ganges and Brahmaputra rivers are called the Padma and the Jamuna in Bangladesh, and both of these massive rivers join several other smaller tributaries to eventually become the Lower Meghna, forming the great Gangetic Delta. At its widest po...
Why Bangladesh feared Indian invasion after 1975 coup
B. Z. Khasru
When Gen. Ziaur Rahman became Bangladesh’s virtual ruler following several bloody military coups in 1975, he told the United States that India intended to invade its small neighbor to install a puppet regime. So intense was Zia’s fear of an Indian invasion that on 7 November 1975 he made a call on the radio for national unity to face the attack. His call triggered more processions in Dhaka, initially sparked by the news of his release from detention by the officers who had mounted a failed coup earlier. The processions were laced with anti-Indian slogans. This public mood in Dhaka reflected a total reversal of the sentiment at the end of the Bangladesh war in 1971 when the sentiment was explicitly anti-Pakistani and...
