A file photo shows a worker handling a machine at a spinning mill in Dhaka. Traders will have to disclose the relevant bank account information to the tax authority as proof of transactions for getting tax credit or VAT rebate. — New Age photo Traders will have to disclose the relevant bank account information to […]

RMG factories in Dhaka. – New Age file photo Several billion dollars in salaries and allowances of top level foreign employees are flying out of the country every year as the technical education provided here does not meet the requirements of the growing readymade garment sector in Bangladesh. An unpublished study of Dhaka University and […]

Private sector credit growth saw a dramatic fall in April as banks put the brakes on their lending activities to adjust their loan-deposit ratio ceiling as per the central bank’s instruction. Last month, credit growth stood at 13.6 percent, down 4.33 percentage points from the previous month, according to data from the central bank. The […]

The budget recommended by the BEA is two-and-a-half times higher than the government’s this year Courtesy ‘High income individuals and organizations do not pay their due taxes; there are maybe 100 people who pay a personal tax over Tk1 crore, whereas the true number should be at least 50,000’ The Bangladesh Economic Association (BEA) has proposed […]

The cabinet committee on economic affairs has endorsed ‘Gold Policy 2018’ keeping provisions for gold import through authorised dealers of Bangladesh Bank. But since it is an important issue, Finance Minister Abul Maal Abdul Muhith said the final clearance has to come from the cabinet Following a meeting of the cabinet committee on Wednesday, the […]

Superstore Shwapno has threatened to wind up business alleging that a mobile court that slapped it with a Tk 1 million fine had denied it the opportunity to defend. Its Executive Director Sabbir Hasan Nisar spoke about the issue at a news conference on Monday, a day after their Banani outlet was raided by a […]

The Dhaka Stock Exchange (DSE) on Monday agreed to sell 25% of its ordinary shares to a Chinese consortium comprised of the Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE). The share purchase agreement (SPA) was signed at a Dhaka hotel, with Finance Minister AMA Muhith in attendance as the chief guest. Wang Jianjun, […]

Country’s textile millers have warned that the sector is facing a survival crisis due to smuggling of textile products and misuse of bonded warehouses and border haats with India. ‘The value of the stock of fabrics and yearns now amounts to Tk 20,000-25,000 crore as 40 per cent of total production have remained unsold since […]