The income tax law explains the issue

The revenue authority desperately needs to accelerate tax collection in order to enable the country to widen its capacity to spend more from its own coffer and cut reliance on external funds, said its chief yesterday.

The price of mild steel (MS) rod may soon cross Tk 1 lakh per tonne as production costs have risen due to a recent hike in fuel and energy prices amid the ongoing US dollar crisis, according to industry people.

The state coffers were robbed of Tk 258 crore for 26 counts of irregularities by the Chattogram Port Authority between fiscal 2017-18 and 2019-20, found the Comptroller and Auditor General (CAG).

Bangladesh’s steady embrace of digitalisation, spearheaded by a growing number of tech startups and rising software and IT service exports, has suffered a heavy blow from the imposition of new taxes this year. 

The National Board of Revenue today extended the deadline for income tax return submission till December 31.

The National Board of Revenue (NBR) may extend by one month the deadline for the submission of income tax returns amid demands from various quarters, said officials today.

Abdul Karim is not worried about the tax liability of Tk 51,500 because he has invested enough money in the specified areas and he knows that an investment allowance is the legal way to get a tax rebate. And this tax credit will help him reduce the tax significantly.

Are you going to submit your tax return by November 30 this year? Then it is better to know what important things you need to check before filing the tax return.  

Bank accounts with upwards of Tk 1 crore in balance are set to face a higher excise duty next fiscal year as the government looks to collect more taxes from the relatively well-off to get close to the lofty revenue collection target.

The tax-free income limit for individual taxpayer has been increased in the proposed budget for FY 2020-21.

Finance Minister AHM Mustafa Kamal proposes to rise tax-free dividend income to TK 50,000 which is now Tk 25,000.

With a plan to collect more tax, Finance Minister AHM Mustafa Kamal proposes not to increase the tax rate.

For the first time, the government yesterday honoured 84 families from across the country with the title “Kar Bahadur” or tax icons for paying high amounts of tax with exemplary compliance for a long time.

The Supreme Court upholds a wage board provision that instructs the owners of newspapers and news agencies to pay the income tax of their employees.

The government undertakes initiative to set up tax office at the upazila level across the country, Finance Minister Abul Maal Abdul Muhith tells parliament.

Individual taxpayers have received two months more to submit their returns for the current fiscal year.