Month: July 2014

The European Union has expressed concern over the recent refusals to register trade unions, attempts to limit their freedom of expression and the lack of measures to address intimidation and violence against workers in Bangladesh. The EU said that the Bangladesh has made much progress since signing the Sustainability Compact a year ago, but further work

The National Board of Revenue has backtracked from the imposition of katha-based land transfer tax for privately-owned lands in Dhaka, Chittagong, Narayanganj and Gazipur because of complexities in collecting the tax by the land registration authorities. The revenue board on Wednesday issued a clarification

The state-owned Rupali Bank has sought around Tk 1337 crore from the government to meet its soaring capital deficit after Bangladesh Bank last month asked the ailing bank to become compliant latest by September, official sources said. Rupali Bank in a letter written to finance ministry last week

The National Board of Revenue has taken an initiative to impose surcharge at the rate of one per cent on mobile phone services including talk time to boost revenue collection from the sector, officials said. They said that the proposed surcharge would be named ‘development surcharge’. The revenue to be collected from the sector will be spent ... Read more

The government’s borrowing from the banking sector declined by 67.64 per cent in the just concluded financial year 2013-14 compared with that of a rise by 14.50 per cent in the FY13 due to a slower pace in implementation of the government’s development works. BB officials told New Age on Tuesday that the government had to ... Read more

Illegal Voip BTRC shortlists 5 cos to set up monitoring system The Bangladesh Telecommunication Regulatory Commission has short-listed five companies for developing a centralised monitoring system to curb illegal business in voice over internet protocol. BTRC officials said three foreign firms and two local firms were short-listed among eight applicants for developing and installing a system ... Read more

Informal firms say no TIN means no tax Formal business firms rated the National Board of Revenue officials lowest for honesty while informal businesses said that they were not interested in getting registered with the NBR to avoid taxes, according to a survey report. The survey titled ‘Tax Perception and Compliance Cost of the Formal Sector ... Read more

Dull Investment Situation BB buys $5.15b in FY14 to check taka appreciation Bangladesh Bank purchased a record amount of dollars — worth $5.15 billion — from the scheduled banks in the just concluded financial year 2013-14 with the aim of curbing depreciation of the greenback against the local currency taka, BB officials said. They said ... Read more

Groups of European and North American retailers have recently provided the names of five more readymade garment factories to the government-set review committee with the suggestion of immediate evacuation from the factories as their inspection teams have detected structural faults in the units. Of the five factories, three are on the inspection list of Accord

The Bangladesh Securities and Exchange Commission has warned ICB Asset Management Company Limited for its attempt to embezzle Tk 50 crore from the Bangladesh Fund. ICB AMCL unlawfully charged the stock market stabilisation fund Tk 75 crore as its formation fee at the rate of 1.50 per cent on the targeted size of the

Dhaka stocks declined for the forth trading session on Sunday with the turnover hitting one-and-half month low as the institutional investors were waiting to buy shares at cheap after year closing shares sell-offs. The key index of the Dhaka Stock Exchange, DSEX, closed at 4,411.15 points, shedding 0.56 per cent or 25.05 points. Turnover of the DSE ... Read more