Md Asaduz Zaman

Why should ordinary citizens bear the burden of a bureaucratic breakdown?

The interim government is likely to scrap the provision that allows black money to be legalised through the purchase of apartments and land in the next fiscal year (FY) 2025-26, amid criticism from civil society groups, think tanks and watchdogs.

NBR faces Tk 141,000 crore June target; analysts cite target impossible

The government proposes sharply increased commercial vehicle tax; operators warn of rising prices.

In a bid to accelerate the shift to cleaner transport and promote domestic manufacturing, the interim government plans to roll out a series of tax benefits focusing on electric vehicles, including electric bicycles (e-bikes), and lithium and graphene batteries.

The interim government’s proposal to raise the turnover tax from 0.6 percent to 1 percent from the next fiscal year has sparked an outcry among business leaders, who said the measure could deal a fresh blow to firms already struggling to stay afloat.

Tax rates on income will remain the same as in fiscal 2024-25

Per capita income is a statistical average, which tells us the size of the economic pie, but not how it’s divided.

The interim government is likely to retain the opportunity to invest undeclared wealth, commonly known as black money, in the real estate sector, albeit with a sharp increase in associated tax rates.

The interim government is set to introduce a wide range of tax and duty reforms in the upcoming fiscal year to facilitate the country’s smooth graduation from Least Developed Country (LDC) status and drive economic growth.

Exports and remittances are climbing, foreign exchange reserves have steadied, and the exchange rate has shown signs of stability

These include steps to reduce the cost of doing business and align tax policies with the requirements of LDC graduation

In order to provide relief to small savers, the government is likely to increase the excise duty exemption threshold for bank deposits in the upcoming budget for fiscal year 2025-26.

In a bid to discourage the use of plastic, the interim government may double the value-added tax (VAT) on some synthetic household products such as tableware and kitchenware to 15 percent.

NBR is facing paralysis over the recent bifurcation ordinance.

After five years, the income tax rate for the highest bracket is likely to revert to 30 percent in the upcoming fiscal year as part of the government’s efforts to address growing inequality — an issue that is among the country’s major economic concerns.

The National Board of Revenue (NBR) is expected to continue the prospective tax system until fiscal year 2027-28, allowing taxpayers and businesses to determine applicable tax rates in advance instead of waiting until the end of the income year.

The government is planning a series of measures in the upcoming national budget to alleviate the tax pressure on individuals and businesses, including raising the tax-free income threshold and relaxing certain compliance requirements.

The upcoming national budget must outline a comprehensive roadmap to prepare for the country’s graduation from the least developed country (LDC) club in 2026, prioritising tariff rationalisation, tax reform, and sustainable fiscal policies, according to a leading business leader.

The interim government is set to slash the development budget for the fiscal year (FY) 2025-26 by 14 percent year-on-year, as it struggles with limited fiscal space and steers away from costly mega-projects.