Business

Capital Machinery Imports: Govt backtracks on slapping advance tax

Tk 5,23,190cr budget passed in JS Staff Correspondent Entrepreneurs will not be required to pay Advance Tax on import https://www.weeklyholiday.net/files/index_php/category/business/page/of capital machinery and spare parts this fiscal year, as the government has backtracked on its move to levy the indirect tax on such import to facilitate industrialisation. in the proposed budget for fiscal 2019-20, the […]

Business

VAT, SD exempted on import of sanitary napkin, diaper raw materials

Holiday Report The National Board of Revenue (NBR) has exempted Value Added Tax (VAT) and supplementary duty on the import https://www.weeklyholiday.net/files/index_php/category/business/page/of raw materials of sanitary napkin and diaper to encourage domestic production at low cost of the two hygiene products for women and babies. “we have offered the benefit to make the products more affordable […]

Business

SCRAP THE NEW PROVISION

Don’t allow outsiders to act as tax practitioners Holiday Report A new provision in the Finance Bill -2019 allowing professionals to be tax practitioners without becoming member of professional tax associations, has created outrage among tax lawyers in the capital and the districts. They are holding sit in demonstration in front of NBR office in […]

Business

Trade licence renewal tax to be up six times

Small, micro businesses oppose Business Report The tax on trade licence renewal is set to increase six times from next fiscal year, raising concerns of soaring operational costs for small and micro businesses. For traders in Dhaka and Chattogram city corporations the National Board of Revenue (NBR) has proposed increasing the withholding tax to Tk […]