Businessmen in the country’s apparel sector are not happy with the proposed tax at source in the national budget for 2015-16 fiscal.
At a press conference at the office of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) at Karwan Bazar in the city on Friday, they feared increasing tax at source would hinder the natural growth of the country’s readymade sector.
They also alleged that the proposed budget has not been garment-sector-friendly and demanded withdrawal of the proposed tax at source.
In his budget proposal on Thursday, finance minister AMA Muhith proposed an increase of tax at source from 0.3 to 1 per cent in the sector.
BGMEA president Atiqul Islam read out a written statement at the press conference organised jointly by the BGMEA, Bangladesh Kni...
Centre for Policy Dialogue (CPD) doubted that the lion part of the target of the revenue earnings projected in the proposed national budget for 2015-16 fiscal may not be achieved.
The think-tank voiced its doubt on Friday at a media briefing organized at capital’s BRAC Centre Inn to give its formal reaction to the national budget placed in parliament on Thursday for the 20105-16 fiscal.
At the briefing, economist and CPD’s distinguished fellow Debapriya Bhattachariya made their presentation on the budget. CPD executive director Mostafizur Rahman placed the welcome speech.
The CPD also thinks that turning the dream the finance minister dreamt in the proposed budget of breaking free of 6 per cent GDP growth trajectory into reality would be difficult if the proposed revenue target...
Finance minister Abul Maal Abdul Muhith Thursday proposed Tk 2.95 trillion (Tk 2,95,100 crore) national budget with a deficit of Tk 86,657 crore in parliament.
He sets the target of attaining economic growth at 7 per cent at the end of the 2015-16 fiscal.
“Our main objective in this fiscal year’s budget will be to break free of the 6 per cent growth trap, and climb up to higher growth trajectory,” the finance minister hoped while unveiling the budget in parliament.
The budget of the outgoing fiscal 2014-15 was proposed at Tk 2.5...
Aligned with the nation’s Digital Bangladesh Vision 2021, the Government today announced it will accelerate its transition from cash to digital payments, marked by a new partnership with the Better Than Cash Alliance. With mounting evidence that digital financial services are a sustainable strategy to deliver effective
access to financial services for all citizens, the move also supports the Government’s efforts to advance financial inclusion.
The Government plans to digitize all forms of social safety payments to citizens, and all forms of fees ...
Money sent home by Bangladeshis working overseas in May rose 8.5 percent from a year earlier to nearly $1.32 billion, the central bank said on Tuesday.
In July-May, the first 11 months of the 2014-15 financial year, Bangladesh received about $13.87 billion in remittances, up 7.2 percent from the same period of the previous year.
Remittances from its millions of citizens abroad are critical for the South Asian nation of 160 million people.
The inflows are a key source of foreign exchange, alongside...
The government is likely to provide tax holiday benefit to some sectors including automobiles and tyre industries from the upcoming national budget to facilitate industrialisation in the country, officials of the finance ministry said.
They said that the proposed tax holiday facility would encourage setting up the import substitute manufacturing plants in the country which would create new employment opportunities as well as save foreign currency through reducing dependence on import.
Finance...
