Bangladesh budget

Bangladesh Finance Minister AMA Muhith placing national budget. BBS file photo

Dhaka, Bangladesh (BBN) – The Bangladesh Business News prepared Thursday’s evening business round up compiling reports, published by different newspapers and news portals both in local and international.

Bangladesh FM unveiling BDT 4 trillion budget
Bangladesh Finance Minister AMA Muhith is placing BDT over 4 trillion budget outlays for fiscal 2017-18 at the National Parliament of Bangladesh on Thursday.

Bangladesh proposes 15pc VAT rate for next three years
Bangladesh has set a 15 percent Value-Added Tax (VAT) rate for the next three years.

Bangladesh’s DGP growth targeted 7.4pc
The Bangladesh government has set 7.4 per cent gross domestic product (GDP) growth target for fiscal 2017-18.

1,033 essential commodities to enjoy VAT exemption
‘The market prices of daily essentials are expected to go down; they are not supposed to increase under any circumstances.’

Budget 2017-18: Keeping money in bank to cost more
Finance Minister AMA Muhith has proposed to increase the excise duty on bank accounts with large debit or credit balance in the fiscal 2017-18 to boost revenue collection.

VAT-free turnover limit to be Tk 36 lakh
Finance Minister AMA Muhith today proposed to increase the VAT-free turnover ceiling to Tk 36 lakh from Tk 30 lakh in the ‘VAT and Supplementary Duty Act 2012’, which is scheduled to be implemented from July 1.

Tax-exempted income threshold for individuals stays at Tk 2.50 lakh
Finance Minister AMA Muhith, in his finance bill, today proposed to keep unchanged the tax-exempted income-threshold for individual tax payers at Tk 2.50 lakh.
Gold import policy by this year
“The government will prepare a policy for importing gold which will help this sector flourish and create an overseas market for exports.”

Prices up, prices down
Finance Minister AMA Muhith, in the national budget for FY 2017-18, has proposed changes to duties on different products, which will result in increase and decrease in their prices.

Corporate tax remains unchanged in FY 17-18
Finance Minister AMA Muhith proposed to keep unchanged the existing tax rate for publicly traded companies at 25 percent and for non-publicly traded companies at 35 percent.

Bangladesh Taka remains unchanged against US dollar
The exchange rate of Bangladesh Taka (BDT) against the US dollar in the inter-bank foreign exchange market remained unchanged in evening transactions on Thursday.

Bangladesh’s stocks extend winning spell for third day
Bangladesh’s stocks extended the winning spell for the third straight session on Thursday as optimistic investors continued their buying spree on lucrative stocks on budget declaration day.

Sensex ends flat; ICICI Bank, ONGC stocks plunge
The Sensex and Nifty ended marginally lower as participants trimmed their positions, triggered by manufacturing sector growth, lower GDP numbers and core industries growth.

Asia closes mixed after weaker-than-expected Caixin PMI; yuan near 7-month high
Stocks in Asia were mixed on Thursday following the release of Caixin PMI data from China, which was at an 11-month low, and as the yuan hit a seven-month high.

Gold holds near five-week highs, but potential US rate hike weighs
Gold edged lower on Thursday but held near the five-week highs hit in the previous session, as expectations that the U.S. Federal Reserve will hike interest rates this month weighed on prices but geopolitical concerns provided some support.

Oil futures rise on US stockpile draw, doubts over climate accord
Oil futures rose on Thursday from a three-week low touched the previous session, buoyed by expectations the United States could pull out of a global climate accord and by a report that showed U.S. crude stockpiles had fallen more than expected.

Top 5 things to know in the market on Thursday
Here are the top five things you need to know in financial markets on Thursday, June 1.
BBN/SSK/ANS