Total collection at tax fair hits Tk 24.68b The week-long income tax-fairs concluded on Monday with collection of Tk 24.68 billion tax, which is up by 11.35 per cent compared to that of the previous year’s fairs. Submission of income tax returns in tax-fairs also jumped by 45 per cent

Govt to approve compliance protocol for readymade garment factories The government has taken a move to approve a compliance protocol namely ‘escalation protocol’ to bring the readymade garment factories, which are not responding to the remediation process, under regulation. Earlier, International Labour Organisation drafted an escalation protocol for the factories

RMG exports soar 36pc Garment export to non-traditional markets grew by 36.21 percent year-on-year to $2.90 billion in the current fiscal year’s first six months because of a government stimulus package and duty-free market access. According to data from Export Promotion Bureau and the Bangladesh Garment Manufacturers and Exporters Association

Banks to cut 15pc VAT on Foreign e-purchase, payments for Ads Bangladesh Bank on Sunday asked country’s all scheduled banks to deduct 15 per cent value-added tax on overseas payments made by their clients using any method, including credit card, against services like online purchase and advertisement on digital platforms.

ICAB suggests 2.0pc cut in corporate tax The Institute of Chartered Accountants of Bangladesh (ICAB) Sunday suggested 2.0 per cent cut in the corporate tax in the budget for the next financial year (FY). Investors would be encouraged to invest more funds following such cut and help generate additional employment