Economists offered mixed reactions to the budget, saying that the size was expected, adding it would be quite a challenge to collect revenues in implementing the plans outlined by finance minister AMA Muhith. Muhith, yesterday, placed the Tk 2.95 trillion budget in Parliament, with a thrust on increasing…

Finance Minister AMA Muhith has proposed to impose tax on basic salary, bonus and festival allowance for both government and non-government salaried employees. “As per existing provision, all allowances excluding basic salary of government employees are tax-free which is discriminatory,”…

Finance minister AMA Muhith yesterday in his budget speech proposed to impose a 10 per cent value-added tax (VAT) on the country’s private universities, and medical and engineering colleges. He said this rate would keep ‘the tax burden at a rational level'. Currently, only English medium…

Indian Prime Minister Narendra Modi yesterday described as ‘very strong’ New Delhi’s relationship with Dhaka and said his upcoming visit to Bangladesh will benefit both the countries as well as the South Asian neighbourhood. He also said he is undertaking the visit with a great sense…

Leaders of the Awami League (AL)-led 14-Party Coalition hailed the proposed budget for the 2015-16 fiscal year. They claimed that the budget will fulfil the government’s dream. They said though the proposed budget for the 2015-16 fiscal is rather voluminous, its implementation will establish the…

BNP leaders have termed the budget proposals as "big sized", but said it was like taking borrowings with clarified butter. They said there are no directions about whitening black money, establishing good governance and ensuring fair price for agricultural products. The BNP leaders felt the…

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has termed the budget as conducive to the expansion of local industries. “We are happy with the budget as it is industry friendly. It will bring momentum to the development of industries across the country, including in Dhaka…

The cost of voice calls, data transfer and SIM cards is likely to go up as Finance Minister AMA Muhith, in his budget speech, proposed 5 per cent supplementary duty on mobile phone services. “I propose to impose 5 percent supplementary duty on the services provided through SIM and RIM card of…

The ceiling of tax-free income for individuals has been raised to Tk 2,50,000 a year from Tk 2,20,000 in the proposed national budget for the 2015-16 fiscal. The government move comes considering the prevailing inflation, increased cost of living and to reduce tax burden for marginal taxpayers. “Considering…