Proposal has been placed to cut the tax deducted at source to 1% from July

CSE Chairman Asif Ibrahim says in his budget reaction

Extending the tax exemption until 2031 would better support Bangladesh's goal of becoming an upper-middle-income country and enhance the IT sector's capacity in domestic and global markets

Supplementary on mobile services will be raised to 20%

The overall taxation system needs to be automated by leveraging technology and data-driven approaches

What is the need for 1,258 projects under the annual development programme (ADP)?

The tax administrator will retain 2024-25’s tax rate for this year and the next year

The VAT on these products may rise to 15% from the existing 5%

The VAT on the home appliance may rise by a 5 percentage points

A 10% customs duty will be imposed on raw materials for the assembly of motorcycles with engine capacity exceeding 250 cubic capacity

But companies must go cashless

The leather industrial estates will be located in Rajshahi, Chattogram and Dhaka

The development comes after Bangladesh Bank relaxed the rules and allowed banks to receive funds from OBUs amounting to 40 percent of their regulatory capital to settle payment obligations.

At present, more than 93 percent of the cash-based social safety net programmes benefits are being paid through the G2P system. The remaining cash-based programmes will be brought under the system in 2024-25.

Bad loans rose by Tk 36,367 crore in just three months

The government has reduced its expenditure by Tk 47,367 crore in the revised budget for the outgoing fiscal year 2023-24, bringing it down to Tk 714,418 crore..In the budget for FY24, total government expenditure was estimated at Tk 761,785 crore..However, considering overall governm

The government wants to raise VAT on the two items to 15% from existing 5%

The import duty has been increased from 15% to 25%

They will face 15% tax if income crosses Tk 50 lakh

Currently, the rate of surcharge payable up to the net asset value of Tk 4 crore is nil