Despite a 2.5 percentage point corporate tax reduction, listed and non-listed companies might end up paying more tax than that last year because of a new plan to increase the tax deducted at source (TDS), said the ICAB yesterday.

The government will likely offer a 10-year full tax exemption in order to encourage private investors to establish hospitals outside of four districts, including Dhaka and Chattogram.

Women entrepreneurs may receive a relief in tax payment on their incomes from businesses in the coming fiscal year, said an official of the finance ministry.

The National Board of Revenue will keep its tax offices open during the ongoing countrywide restrictions on movement.

In the Addis Ababa Action Agenda 2015, which aims to provide a global framework for financing the Sustainable Development Goals, countries committed to enhancing revenue administration through modernised, progressive tax systems, improved tax policy, and more efficient tax collection.

The government may keep its tax collection target unchanged for the National Board of Revenue in the next fiscal year because of the devastating effect of the coronavirus pandemic on the economy.

Tax collection increased in March thanks to improvement in receipts from import duty and value added tax (VAT), showed provisional data from the National Board of Revenue (NBR).

Nihad Kabir, president of the Metropolitan Chamber of Commerce and Industry, said: “If we want to bring FDI, we have to cooperate with the Bida and the country’s businessmen. That way, both sides will be able to identify weaknesses to attract FDIs.”

Finance Minister AHM Mustafa Kamal yesterday indicated that the government may consider reducing corporate tax rates for listed firms in the upcoming budget.

The National Board of Revenue (NBR) yesterday said its field offices would remain open to receive monthly VAT returns from businesses during the days of restrictions imposed by the government to slow the spread of coronavirus infections.

The National Board of Revenue (NBR) has rejected a plea of Dhaka Club for a waiver of Tk 33.7 crore in unpaid value-added tax (VAT) and supplementary duty (SD).

For the first time, the National Board of Revenue (NBR) held a lottery today with the receipts generated through electronic fiscal devices (EFDs) against purchases made by consumers from stores.

The National Board of Revenue is going to start installation of electronic transaction registers termed as electronic fiscal device from this month at retail and wholesale levels, says NBR Chairman Md Mosharraf Hossain Bhuiyan.

Chairman of the National Board of Revenue Mosharraf Hossain Bhuiyan has urged all to shun the “tax-evading tendency” for the sake of the country’s development.

The National Board of Revenue’s large taxpayer unit (LTU) has recently asked software companies to get listed with it if they were interested in providing programmes enabling businesses to maintain accounts and keep records of value-added tax (VAT).

Facebook will appoint a local representative within the next four to six weeks to ensure payment of value-added tax from their advertisement earnings from Bangladesh market, much to the relief of the revenue authority.

The tax administration has made it mandatory for both local and foreign firms to use a new form from the current fiscal year while filing returns, which will require companies to disclose more information in detail.

Most officials at Customs House Chattogram are not only performing their designated duties but also filling in for vacant posts for an acute shortage of workforce.

The government will use some 10,000 people through third-party sources to widen the tax net to upazila level by this year.

Revenue collection is poised to fall short of target by a big margin this fiscal year, with receipts growing the lowest in five years in the first nine months due to sluggish collection of customs tariff and value-added tax. Between July last year and March this year, the National Board of Revenue