High corporate tax a bane for businesses Bangladesh has one of the highest corporate tax rates and complex tax systems in the world that act as a disincentive to investment, analysts said. The tax administrator collects corporate tax in eight categories. Telecom operators, banks and financial institutions and cigarette manufacturers—the main sources of taxes—pay the […]
SDGs must be funded with local resources: experts The government should mobilise funds from domestic sources in an innovative way and improve institutional efficiency to achieve the Sustainable Development Goals, experts said yesterday. Foreign assistance is not increasing in line with the demands of the SDGs, said said Mustafizur Rahman, a distinguished fellow of the […]
35 NRBs get CIP status Expatriate welfare and overseas employment ministry on Tuesday awarded 35 Non Resident Bangladeshis as Commercially Important Persons, CIP, status for their significant contribution to the country’s economy in 2016. Of the CIPs, some 29 NRBs get the CIP status for sending back remittance to country through legal channels and six […]
Mega budget: Implementation big challenge The proposed national budget finance minister AMA Muhith presented to parliament on Thursday for the 2018-19 fiscal year (FY) is the biggest one in the country’s history. The Tk 4.64 trillion budget, which is 25 per cent larger than that of the revised budget for the last FY, will once […]
The technology challenge garment industry faces For many years, discussion of the global garment industry has been dominated by the following question: Where were your clothes made, and by whom? But today, there is a more relevant question: How were your clothes made, and by what? What you wear is going high-tech, whether you know […]
Workers at 3,000 subcontracting RMG units in danger Workers at more than 3,000 subcontracting readymade garment factories in Bangladesh have been working under dangerous conditions five years after Rana Plaza collapse as the factories still lack safety measures, according to a recent study of New York University. The study titled ‘Five Years After Rana Plaza: […]
France wants to finance second satellite French company Thales Alenia Space is willing to design and build Bangladesh’s second satellite while the French government wants to provide the finances as a loan, Telecom and ICT Minister Mustafa Jabbar said yesterday. The proposals came at a meeting earlier in the afternoon with the French ambassador and […]
Bangladesh-made jerseys win global hearts Bangladesh exported fan jerseys worth $1 billion for all 32 nations participating in the 2018 FIFA World Cup in what can be viewed as an exciting opening for the country’s garment exporters. “This time, the work orders from Bangladesh were higher than the previous edition of the World Cup,” said […]
SERVICES SECTOR Export earnings rise 42pc Export earnings from the services sector grew 42.14 percent year-on-year to $396.58 million thanks to increasing income from goods transportation and rising export of skilled human resources. “The services sector’s export has been growing over the last few months because we are sending more skilled and professional personnel abroad,” […]
Khirsa mango to get GI tag soon The Khirsapat mango of Chapai-nawabganj, popularly known as himsagar, is set to become the third product after hilsa and jamdani to get the Geographical Indication (GI) tag. The development comes after the Bangladesh Agricultural Research Institute applied for GI certification for the mango variety in February last year […]