BGMEA urges govt to revise tax on sources
Terming some initiatives of the national budget for fiscal 2016-17 as encouraging for industrialization, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) today said the proposed 1.50 percent tax on source would hinder the goal of export earning envisaged by the government in line with vision-2021.
"Some initiative might pave the way of industrialization, but 1.50 percent tax on sources would directly create hindrance the evolvement of industrialization," said BGMEA President Md. Siddiqur Rahman in a media briefing that organized to pass their reaction on the proposed national budget, reports BSS.
Mentioning that 1.50 percent tax on source would increase 150 percent direct tax, he said "any wrong
VAT increase to lead SME sector feel the heat
Finance Minister AMA Muhit, MP, proposed the National Budget for 2016-17 FY in the National Parliament on 2nd June 2016. The size of the proposed budget is Tk. 3 Lac 40 Thousand 605 Crore, where non-development expenditure is 2 Lac 29 Thousand 900 Crore, development expenditure is Tk. 1 Lac 10 Thousand 700 Crore and total deficit is Tk. 97 Thousand 853 Crore, which is 5% of GDP. In the proposed budget, the total revenue was targeted at Tk. 2 Lac 42 Thousand 752 Crore, where NBR earnings were projected as Tk. 2 Lac 3 Thousand 152 Crore which is 35.4% higher than the corrected target of the running FY, and non-NBR earnings were projected as Tk. 39 Thousand 600 Crore. This target of revenue earnings, without any doubt, can be termed as ambitious and seems to be ‘not so easy to ...
Mobile phone use to get costlier
Mobile phone use cost will increase in the next fiscal as Finance Minister AMA Muhith proposed to hike the duty on SIM card-related services to 5 percent.
Currently, there is a 3 percent supplementary duty on all kinds of mobile service use. In his proposed budget, Muhith set a 5 percent duty.
Mobile phone operators feared this will badly impact their earnings and network expansion 
plan. “No doubt after implementing this tax users will reduce their uses,” said a top official of a leading mobile phone...
plan. “No doubt after implementing this tax users will reduce their uses,” said a top official of a leading mobile phone...
IBBL approves 20pc cash dividend
Islami Bank Bangladesh Limited (IBBL) has approved 20% cash dividend for the shareholders for the year 2015. The dividend was approved in the 33rd Annual General Meeting of the Bank held on Thursday at Bangabandhu International Conference Centre in the capital.
The meeting approved the balance sheet ended at 31st December 2015, Profit and Loss Account and Reports of the Directors and Auditors of the Bank. Engr. Mustafa Anwar, chairman of the bank presided over the meeting. Mohammad Abdul Mannan, Managing Director & CEO and Sheikh Moulana Mohammad Qutubuddin, Chairman of the Shari`ah Supervisory 
TK 1.10 lakh crore allocation for ADP in FY17
The proposed National Budget for the fiscal 2016-17 has set an Annual Development Programme (ADP) with the original outlay of Taka 1,10,700 crore aiming to ensure a balanced development and higher growth.
In the new ADP, transport, education, power, rural development, health, and water sector have been given highest priority, reports BSS.
However, incorporation of Taka 12,645.80 crore of own financing projects from the corporations and autonomous organizations has inflated the ADP outlay to Taka 1,23,345.80 crore.
“Like previous years, we have estimated the ADP allocations while giving priority to ensuring regional parity, developing human resources and infrastructure and securing quality of
Inter-Univ debate contest at RU on Friday
Inter university debating contest titled “Bisk club-BFDF National Debate fest-2016” will held at Rajshahi University which is arranged by Business studies Faculty Debating Forum (BFDF).
BFBF has organized the debate contest for the forth times where 32 teams from public and private Universities across the country are expected to participate.
Rajshahi Law Maker Fazle Hasan Badshah will inaugurate the inaugural programme at RU dean’s complex and RU vice chancellor Prof Chowdhury Sarwar Jahan will present as specia...
BFBF has organized the debate contest for the forth times where 32 teams from public and private Universities across the country are expected to participate.
Rajshahi Law Maker Fazle Hasan Badshah will inaugurate the inaugural programme at RU dean’s complex and RU vice chancellor Prof Chowdhury Sarwar Jahan will present as specia...
