The chartered accountants' body thinks it would help expand tax net

According to the proposed budget for the next fiscal year 2023-24, if one wants to avail one of 38 types of government services, they will have to submit proof of filing income tax return along with a tax identification number (TIN)

The apex trade body gives budget reaction

The International Business Forum of Bangladesh (IBFB) says in budget reaction

The company has also appointed Md Mohsin Habib Chowdhury as its chief operating officer.

The government has not framed the national budget for the fiscal year of 2023-24 based on the prescription of the International Monetary Fund (IMF), said Finance Minister AHM Mustafa Kamal today.

Rashed Al Mahmud Titumir, professor and chairman of the development studies department of Dhaka University, talks to The Daily Star about whether the proposed budget for the 2023-24 fiscal year may help the foreign trade of the country amid the persistent dollar crisis

The think-tank says in its budget briefing

Ceramic factories in underdeveloped regions of northern Bangladesh are struggling for survival as other than absence of natural gas, the ongoing US dollar crisis has led to a roughly 40 to 50 per cent increase in production costs.

Although garment shipments from Bangladesh to major destinations saw negative growth over the past few months due to inflationary pressure stemming from the Russia-Ukraine war, rising exports to non-traditional markets has emerged as a silver lining.

Sonali Bank recently signed an agreement with the Microcredit Regulatory Authority (MRA) to collect the annual subscription and other fees of various microcredit institutions certified by the MRA.

Shun Shing Group has recently appointed Group Managing Director Ikram Ahmed Khan as the chairman of its operations in Bangladesh. 

Banks in Bangladesh yesterday decided they will pay Tk 107 for each US dollar purchased from exporters in a bid to implement a single exchange rate system, replacing the existing multiple rate system.

Turnover at the Dhaka Stock Exchange (DSE) increased 22 per cent from the previous day and rose to almost Tk 1,200 crore yesterday after a break of nearly seven months.

Agro Organica PLC has given go-ahead to raise Tk 5 crore from the stock market investors through listing with the SME board.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and H&M Group entered into a deal yesterday to attempt a transition towards a circular and climate neutral garment industry in Bangladesh by reducing carbon emissions by 30 per cent. 

The value added tax (VAT) on locally made biscuits and sweetmeat is likely going to be reduced in the national budget for fiscal year 2023-24 being announced today.  

High corporate taxes on banks, non-bank financial institutions, merchant banks, insurance companies and telecommunication companies are not logical as their profit is not high compared to capital, said Shahidul Islam, chief executive officer of VIPB Asset Management Company.

US-based global ratings agency Moody’s Investors Service yesterday downgraded the credit rating of six local banks by one notch, a day after it cut the sovereign credit rating for Bangladesh. 

The voices of disadvantaged groups, the poor and small entrepreneurs have remained unheard when it comes to policy-making as fiscal policies have been captured by vested sections of society, alleged Towfiqul Islam Khan, a senior research fellow of the Centre for Policy Dialogue.