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Govt should address corruption, complexity in tax system

MOST businesses coming to find the tax system complex, burdensome and prone to corruption speaks of the sorry state of the system. A Centre for Policy Dialogue study shows that 57.1 per cent of businesses perceive bribery as commonplace in tax-related interactions while 59.4 per cent of them find difficulties in compliance. Most businesses also find the...

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NBR chair vows tougher action against gold smuggling

National Board of Revenue chairman Abdur Rahman Khan has warned that tougher steps would be taken to address gold smuggling, streamline tax procedures and ensure fair pricing of essential goods...

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Tax return submission deadline extended till Dec 31

The National Board of Revenue has extended the deadline for income tax returns submission by all types of taxpayers except companies in both offline and online by one month till December 31, 2024...

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Farmers target PM in protest against new UK tax rules

Hundreds of farmers, many in tractors, gathered in Wales on Saturday to protest against UK prime minister Keir Starmer and his government鈥檚 decision to change inheritance tax rules for farms...

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Court issues travel bans on Union Bank MD Mokammel, ex-JP MP

Dhaka Metropolitan Senior Special Judge Court on Thursday issued international travel bans on eight people, including Union Bank managing director ABM Mokammel Hoque Chowdhury, former Taxes Appellate Tribunal member Ranjit Kumar Talukder and his wife Jhumur Majumder over allegations of amassing illegal wealth...

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Electronic tax returns must for certain service holders

The National Board of Revenue has made it mandatory for certain public and private service holders including bankers and officials of mobile phone operators to file their income tax returns electronically.

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NBR moves to digitalise tax audit selection

The National Board of Revenue has initiated a plan to digitalise its tax audit selection process, replacing the long-standing manual method, to eliminate human interference and restore taxpayer confidence...

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US recovers $1.3b from wealthy taxpayers

The US government said Friday that it has recovered $1.3 billion from wealthy taxpayers since late 2023, as part of efforts to ensure that high-income individuals are paying taxes owed...

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NBR sets six-month target to expand tax net

The National Board of Revenue has set a six-month target to significantly broaden its tax base, aiming to reduce the disproportionate burden on the country鈥檚 existing taxpayers...

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DCCI urges NBR for CMSME-friendly tax structure

The Dhaka Chamber of Commerce and Industry on Wednesday urged the National board of Revenue to formulate a tax structure that would be friendly to the cottage, micro, small and medium enterprise businesses...

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Businesses demand reforms in bank, revenue sectors

The country鈥檚 business leaders on Tuesday urged the government to maintain enhanced law and order situation and make reforms in the banking sector and tax administration to restore a favourable business environment...

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NBR chairman for boosting tax-to-GDP ratio

National Board of Revenue chairman Md Abdur Rahman Khan on Sunday underscored the importance of increasing Bangladesh鈥檚 tax-to-GDP ratio, which he described as critically low compared to neighbouring countries....

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