Tag Archives: Budget

VAT: Prospect of integration with social security

budget

MNA Editorial Desk: The national budget of Bangladesh for the fiscal year 2018-19 was presented by the finance minister AMA Muhith just a few days ago. Still there are many discussions going on regarding the size of the budget and several changes or provisions of it. One of the most important targets to accumulate the earnings for the expenditures in the proposed budget is by collecting tax revenue from the citizens, a job National Board of Revenue (NBR) is doing with immense precision. It was said that, the government targets to have 10 million registered taxpayers by the fiscal year ...

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Budget 2018-19: Full implementation is the key to success

Bangladesh

MNA Editorial Desk: Bangladesh is moving towards a very eventful upcoming 12 months as the budget has been announced for the fiscal year 2018-19 on 7th June. This particular fiscal year is very important because it will create an impact on the outcomes of the 11th national elections and with the new government irrespective of Awami League, BNP, Jatiya Party or any other entity in power, the policies and philosophies of the proposed budget will face severe challenges while the budget itself is expected to create a lot of challenges. Finance Minister AMA Muhith unveiled a budget of Tk 4,645.73 ...

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Trump signs $1.3 trillion budget

travel ban

MNA Business Desk: President Donald Trump grudgingly signed a $1.3 trillion federal spending measure Friday and averted a midnight government shutdown – but only after undercutting his own negotiators and setting off a mini-panic with a last-minute veto threat. The episode further eroded the already damaged credibility of both the president and a White House staff that had assured the nation he was onboard. Trump said he was “very disappointed” in the package, in part because it did not fully pay for his planned border wall with Mexico and did not extend protection from deportation to some 700,000 “Dreamer” immigrants ...

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Government shifted position on budget focusing election

budget

MNA Editorial Desk: The government has shifted its position on budget specially VAT, excise duty hike as they are focusing on the upcoming general election in 2019. Finance Minister AMA Muhith backtracked from his decisions to impose 15 percent uniform VAT and raise excise duty on bank accounts of smaller balance to meet the huge expenditure of the next fiscal year after severe criticism. The businessmen kept protesting the new VAT law for a period of over one year. The opposition leaders as well as leaders from the government have raised voices following public concern after Muhith presented the proposed ...

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Rate of excise duty likely to be changed: Muhith

mega budget

MNA Business Desk: Finance minister Abul Maal Abdul Muhith on Wednesday said the decision whether the proposed excise duty on bank deposits will be withdrawn or reduced will be taken after discussion in parliament. “Jatiya Sangsad is now discussing the proposed duty and on the basis of the discussion, the rate of excise duty is likely to be changed,” he told journalists after a meeting of the Cabinet Committee on Government Purchase (CCGP) at the Cabinet Division in the capital. Muhith also said the duty on bank accounts is not a new thing as there was such duty before, reported ...

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Budget for next fiscal projected 4.20 lakh crore: Muhith

lakh crore

MNA Business Desk: AMA Muhith, Finance Minister, yesterday said the possible outlay of the budget for the coming 2017-2018 fiscal year could be as high as Taka 4.20 lakh crore. “We projected that the next budget outlay Taka 4 lakh crore but I want to take it Taka 4.20 lakh crore,” he told journalists after a pre-budget meeting with leading financial watchdogs at the State Guest House Padma here. Economists and representatives of Economic Research Group (ERG), Bangladesh Institute of Development Studies (BIDS), Policy Research Institute (PRI) and Bangladesh Economic Association (BEA) took part in the discussion. The think tanks ...

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Share Market Stakeholders get nothing in proposed budget

budget

MNA Business Desk: Apparently stakeholders at Share Market get nothing in the proposed budget for this year. Share market shareholders have voiced frustration at the offered budget, though the finance minister apprehends an exciting share market. They claimed that the budget for fiscal year 2016-17 had offered them ‘nothing’. Ahmad Rashid Lali, Senior Vice President of Dhaka Stock Exchange said they had not received the support they were imagining. He further added that the budget has not reproduced the necessities of the Dhaka and Chittagong Stock Exchanges and anyone can complain that this budget has no good for the capital ...

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Budget for 2016-17 fiscal year

budget

MNA Editorial Desk: AMA Muhith, Finance minister, is set to place the national budget for the next fiscal year, 2016-17 at parliament on Thursday afternoon with a likely outlay of Tk. 340,605 crore (3.4 trillion) aiming to create more jobs, wooing investment and speeding up the implementation of a clutch of ‘transformational’ mega-projects. Muhith will place his 8th successive budget as finance minister of the AL-led coalition that has been in power since 2009, and his own 10th overall, putting him in a tie with the late Saifur Rahman. Muhith is projected to start his demonstration using PowerPoint at 3pm. ...

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