Bangladesh considers phasing out non-refundable minimum tax
The National Board of Revenue (NBR) in Bangladesh is planning to phase out its non-refundable minimum tax system according to local sources, a move aimed at aligning with global tax standards and encouraging investor confidence. The NBR plans to
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Bangladesh, Uganda to negotiate income tax treaty
Representatives from Bangladesh and Uganda met to discuss bilateral cooperation and the need for an income tax treaty on Thursday, 17 October 2024. Joyce Kakuramatsi Kikafunda, the Non-Resident High Commissioner of Uganda to Bangladesh, made a
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Hong Kong gazettes tax treaty with Armenia, Bahrain, Bangladesh, Croatia, Turkey
Hong Kong’s Chief Executive in Council issued an Order to implement tax treaties with Armenia, Bahrain, Bangladesh, Croatia, and Turkey on 23 October 2024. The Order for signing tax treaties with Armenia, Bahrain, Bangladesh, Croatia, and
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Hong Kong issues tax treaty orders with Armenia, Bahrain, Bangladesh, Croatia, and Turkey
The Hong Kong Inland Revenue has announced that the Chief Executive in Council has issued five orders to ratify upcoming tax treaties with Armenia, Bahrain, Bangladesh, Croatia, and Turkey on 23 October 2024. The Orders will be gazetted today, 25
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Mauritius gazettes amending protocol to tax treaty with Bangladesh
Mauritius has gazetted the amending protocol (Government Notice No. 182 of 2024) to the 2009 Double Taxation Avoidance Convention (BM DTC) with Bangladesh. The amending protocol was signed by Mauritius on 5 February 2024 and sent to Bangladesh
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Bangladesh passes Finance Act 2024
The Bangladesh parliament has passed the Finance Bill 2024 on 30 June, 2024, which amends several laws related to individual tax, corporate tax, and vat and supplementary duty. The bill was introduced by Finance Minister Abul Hassan Mahmood Ali,
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Austria to negotiate first tax treaty with Bangladesh
The Austrian Council of Ministers approved the negotiation of an income and capital tax treaty with Bangladesh on 3 July 2024, according to information published by the Federal Chancellery. A tax treaty, also called double tax agreement (DTA) is
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Bangladesh passes fiscal year 2024-25 budget
Bangladesh’s national budget of BDT 7,97,000 crore (USD 74.3 billion) for the fiscal year 2024-25 was approved by the parliament yesterday, 30 June 2024, targeting a GDP growth rate of 6.75 % and aiming to maintain annual inflation at
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Bangladesh: PSR mandatory for hotels, restaurants, clinics
The Bangladesh government is reportedly expanding its tax net; targeting hotels, restaurants, clinics, and diagnostic centres in an effort to boost revenue collection. The new measures, which take effect next fiscal year, will require these
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Bangladesh FY 2024-25 budget: How feasible is it?
Bangladesh Finance Minister, Abul Hassan Mahmood Ali, proposed the BDT 7,97,000 crore (approximately $7.97 billion) national budget for the fiscal year 2024-25 before the parliament on 6 June, 2024. This is the country’s largest-ever budget for
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Bangladesh proposes corporate tax cuts to boost cashless transactions
The Bangladesh government has announced plans to reduce corporate income tax by 2.5% points to promote digital financial transactions today, 6 June, 2024. This tax incentive aims to encourage businesses to comply with a new condition mandating
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Bangladesh: 2024/25 budget’s potential impact on consumer goods and services
Bangladesh Finance Minister Abul Hassan Mahmood Ali announced the BDT 7,96,900 crore (approximately $7.97 billion) national budget for the fiscal year 2024/25 in the parliament today, 6 June, 2024. The new budget could potentially have an impact on
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Bangladesh: Finance minister presents 2024/25 budget before the parliament
Bangladesh Finance Minister, Abul Hassan Mahmood Ali, proposed the BDT 7,97,000 crore (approximately $7.97 billion) national budget for the fiscal year 2024-25 before the parliament today, 6 June, 2024. This is the country's largest-ever budget
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Bangladesh to raise cigarette prices with higher taxes in budget for 2024-25 fiscal year
Cigarette prices are set to go up following an increase in supplementary duty and value-added tax (VAT) announced in Bangladesh's national budget for the 2024-25 fiscal year, which was presented today, 6 June, 2024, at the National
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Bangladesh proposes elevating VAT on SIM cards
The proposed budget for the fiscal year of 2024/25 suggests an increase in Value Added Tax (VAT) on SIM/eSIM cards, rising from BDT 200 to BDT 300. The supplementary duty on SIM-enabled telecommunication services has been elevated to 20%, marking
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Bangladesh could introduce VAT to light bulbs
The government of Bangladesh had previously exempted the country’s local electronics sector from value-added tax (VAT) for several years. However, Energy-efficient bulbs (1-50 watts) and tube lights (18W and 36W) may be getting more expensive as
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Bangladesh Cabinet approves FY 2024/25 budget
The Cabinet of Bangladesh approved the proposed national budget for FY 2024/25 on Thursday, 6 June, 2024. Announced by Abul Hassan Mahmood Ali, Finance Minister, on the same day it received the presidential authentication in the parliament; the
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Bangladesh reportedly plans customs duty alignment with WTO standards
The National Board of Revenue (NBR) in Bangladesh reportedly plans to align customs duties for 20 products with the World Trade Organisation's (WTO) Bound Duty rates in the 2024/2025 fiscal year. Over the next two fiscal years, another 40
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