Cabinet returns draft income tax law for revision

The meeting approves a proposal for ratification of the ‘Framework Agreement on the Establishment of the International Solar Alliance’

The Cabinet yesterday sent back the draft of The Income-tax Act, 2017 asking the Internal Resources Division (IRD) to place it again in any next meeting after necessary scrutiny and revision, reports BSS.

“The cabinet with Prime Minister Sheikh Hasina in the chair has discussed the draft in details but sent it back asking IRD to bring changes in some places,” cabinet division's secretary for coordination and reforms NM Ziaul Alam told a media briefing after the cabinet meeting at the Prime Minister's Office (PMO).

Alam, however, did not elaborate which provisions of the draft law were asked to be revised saying that "it can be told after the revision".

The alliance will have an assembly to take decisions and a secretariat for execution of the decisions. Members of the alliance don't need to provide any subscription. However they can provide fund in terms of donation. India will be the depository of the alliance.

Cabinet Division Secretary on Coordination and Reforms NM Ziaul Alam said the International Solar Alliance (ISA) was launched at the UN Climate Change Conference in Paris on November 30, 2015 by Indian Prime Minister Narendera Modi and then French President Francois Hollande.

Following that, he said, Bangladesh signed the agreement on the sidelines of the COP22 Conference in Morocco. "Today, the 'Framework Agreement on the Establishment of the International Solar Alliance' has been ratified."

Highlighting some salient features of the deal, Ziaul Alam said the Alliance will take steps to remove the obstacles and problems in boosting the solar power of the solar-resource-rich member countries alongside taking integrated efforts for financing solar power projects, conducting research, ensuring necessary development and boosting capacity.

"Besides, various programmes and proposals of the ISA will be adopted through discussions," he added.

The cabinet division secretary said there will be an assembly and one secretariat under the ISA, while the member states will be the member of the assembly and decision will be taken in the assembly through votes.

"The ISA secretariat will execute the assembly decisions," Ziaul Alam added.

He also said India will act as the depositor of the alliance while any member state can withdraw its membership after giving a three-month notice.

The ISA aims to channel $300 billion in 10 years to promote renewable energy projects under a global mega fund for clean energy.

The cabinet meeting, however, directed the Internal Resources Division (IRD) to resubmit the draft of 'The Income Tax Bill, 2017' after reviewing the draft law in details.

The meeting also adopted separate condolence and censure motion on the August 21 grenade attack in the city in 2004 in a bid to kill then opposition leader and Awami League President Sheikh Hasina.

Ministers, state ministers, and secretaries concerned were present.

Cabinet returns draft income tax law for revision

The meeting approves a proposal for ratification of the Framework Agreement on the Establishment of the International Solar Alliance

The Cabinet yesterday sent back the draft of The Income-tax Act, 2017 asking the Internal Resources Division (IRD) to place it again in any next meeting after necessary scrutiny and revision, reports BSS. The cabinet with Prime Minister Sheikh Hasina in the chair has discussed the draft in details but sent it back asking IRD to bring changes in some places, cabinet divisions secretary for coordination and reforms NM Ziaul Alam told a media briefing after the cabinet meeting at the Prime Ministers Office (PMO). Alam, however, did not elaborate which provisions of the draft law were asked to be revised saying that it can be told after the revision. The alliance will have an assembly to take decisions and a secretariat for execution of the decisions. Members of the alliance dont need to provide any subscription. However they can provide fund in terms of donation. India will be the depository of the alliance. Cabinet Division Secretary on Coordination and Reforms NM Ziaul Alam said the International Solar Alliance (ISA) was launched at the UN Climate Change Conference in Paris on November 30, 2015 by Indian Prime Minister Narendera Modi and then French President Francois Hollande. Following that, he said, Bangladesh signed the agreement on the sidelines of the COP22 Conference in Morocco. Today, the Framework Agreement on the Establishment of the International Solar Alliance has been ratified. Highlighting some salient features of the deal, Ziaul Alam said the Alliance will take steps to remove the obstacles and problems in boosting the solar power of the solar-resource-rich member countries alongside taking integrated efforts for financing solar power projects, conducting research, ensuring necessary development and boosting capacity. Besides, various programmes and proposals of the ISA will be adopted through discussions, he added. The cabinet division secretary said there will be an assembly and one secretariat under the ISA, while the member states will be the member of the assembly and decision will be taken in the assembly through votes. The ISA secretariat will execute the assembly decisions, Ziaul Alam added. He also said India will act as the depositor of the alliance while any member state can withdraw its membership after giving a three-month notice. The ISA aims to channel $300 billion in 10 years to promote renewable energy projects under a global mega fund for clean energy. The cabinet meeting, however, directed the Internal Resources Division (IRD) to resubmit the draft of The Income Tax Bill, 2017 after reviewing the draft law in details. The meeting also adopted separate condolence and censure motion on the August 21 grenade attack in the city in 2004 in a bid to kill then opposition leader and Awami League President Sheikh Hasina. Ministers, state ministers, and secretaries concerned were present.