NBR rolls out scheme for tax returns e-filing
Taxpayers will be able to file their tax returns online in the next fiscal year, the National Board of Revenue said yesterday.
“As a citizen, you will no longer need to visit us to file your tax returns,” NBR Chairman Md Ghulam Hussain said at a press briefing, organised to announce the e-filing scheme.
The move, the revenue authority said, will enhance transparency and accountability in tax filing and ensure higher compliance.
Currently, less than 1 percent of the population pays income tax regularly, although the NBR is of the belief that the country has 60 lakh people with taxable incomes. Of them, nearly 15 lakh have TINs now.
APJ Kalam asks India, Bangladesh to promote jute
Former Indian President APJ Abdul Kalam on Sunday asked India and Bangladesh to join hands to promote jute, saying their joint initiatives can eliminate plastic products from the world and benefit their economy.
"Fortunately Bangladesh has a plant called jute while India has the industry for jute," he said while addressing the 110th founding anniversary celebration of the Metropolitan Chamber of Commerce and Industry (MCCI) at Bangabandhu International Conference Centre in the capital.
Kalam, also known as the Missile...
Kalam, also known as the Missile...
Turkish textile sector eyes Bangladeshi workers
Turkish textile industry players are planning to bring over Bangladeshi workers to Turkey, Istanbul Textile and Apparel Exporter Associations (IHKIB) head Hikmet Tanrıverdi has told daily Habertürk, saying not enough Turks could be found for the positions.
“We could not find Turkish blue-collar workers to hire in our factories at the minimum wage, as a majority of them prefer to work in the services sector for the same amount of money in a cleaner working environment,” Tanrıverdi said.
“Syrian ...
“We could not find Turkish blue-collar workers to hire in our factories at the minimum wage, as a majority of them prefer to work in the services sector for the same amount of money in a cleaner working environment,” Tanrıverdi said.
“Syrian ...
Bangladesh Business Forecast Report Q4 2014
Bangladesh will benefit from the power struggle between China and India for dominance of South Asia and the Indian Ocean, as the two giants will want to strengthen their political, economic and defence cooperation with Dhaka. This bodes well for Bangladesh's long term economic growth, which we are forecasting to come in at an annual average rate of 6.3% over the next 10 years.
With the return of political normalcy, we are optimistic that investment and export sector growth will start to pick up over the coming quarters, and are forecasting real GDP growth of 6.3% in FY2014/15.
Bangladesh Bank is expected to keep its REPO rate unchanged at 7.25% in H1FY15 (July-December), as inflation will likely remain relatively benign, while the economy should recover from the recent political t...
Better tax administration key to development
More efforts are needed to improve tax collection in countries in South Asia to address inequality, a new report from the World Bank says.
The World Bank’s report, “Addressing Inequality in South Asia,” says the South Asia region is home to some remarkable social protection programs, but tax collections are low compared with the rest of the world due to very low compliance rates and the allocation of substantial tax expenditures to regressive subsidies.
The World Bank said: “Much of the social assistance in South Asia benefits those that are better off. For...
The World Bank’s report, “Addressing Inequality in South Asia,” says the South Asia region is home to some remarkable social protection programs, but tax collections are low compared with the rest of the world due to very low compliance rates and the allocation of substantial tax expenditures to regressive subsidies.
The World Bank said: “Much of the social assistance in South Asia benefits those that are better off. For...
