Dhaka, Bangladesh (BBN) – The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Export source tax cut to 0.7pc
The government has reduced the income tax at source on export earnings to 0.70 per cent from the existing 1 per cent for the current fiscal year 2017-18 following demands of exporters. The National Board of Revenue on Saturday issued a statutory regulatory order lowering the tax, known as export tax, for all sectors except jute and jute goods with retrospective effect from July 1. Exporters will enjoy the benefit till June 30, 2018, the SRO stated.
Only 20pc of Pangaon port’s capacity utilized
Only around 20 percent of the Pangaon port’s capacity could be utilised since it became operational some four years ago due to several reasons, including high shipping charges and traffic jam. The problems came to light at a meeting at the port, situated on the Buriganga river in Dhaka’s Keraniganj upazila, yesterday in presence of Finance Minister AMA Muhith and Shipping Minister Shajahan Khan.
ICT export earnings rises by 25% in FY’17
Export earnings from computer services and software rose by more than a quarter in the last fiscal year to $191 million. Industry insiders attributed the 25.76% jump on the same period a year ago to government policy support and capacity enhancement within the industry. According to the Export Promotion Bureau (EPB) data, the earnings figure for the fiscal year which ended on June 30 was 19.34% above the fiscal year target of $160 million.
NBR asks IIC to intensify vigilance against tax evasion
The National Board of Revenue (NBR) has asked its Investigation and Intelligence Cell (IIC) formed in each tax zone to strengthen their vigilance aiming to contain tax evasion. “As part of the programme to catch the tax evaders the NBR has asked the IIC to take effective steps,” a senior official of the NBR told newsman, reports UNB.
Bangladesh’s stocks keep gaining as bank shares rise
Bangladesh’s stocks extended their gaining spell for the second day in a row on Monday as optimistic investors were active on bank shares. Following the previous day’s record high, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened with an optimistic note amid rising trading activities.
New gas sector master plan ready, awaiting announcement
Aiming at producing 12,000 million feet per day (mmcfd) gas by 2041, the government has finalised the draft of a new master-plan for the country’s gas sector. The plan is drafted especially by keeping in mind 7% annual economic growth after 2020. The other issues considered in the master plan are slower development and modest penetration of coal in the power sector, and fall of gas penetration in power generation from 70% to 40%.
Ministry sends back BTRC proposal on call rate revision
The post and telecommunication ministry has sent back a proposal of Bangladesh Telecommunication Regulatory Commission on mobile call rate adjustment. The ministry at the same time also asked BTRC to review its proposal. Although a draft proposal on mobile call rate adjustment was earlier sent to the ministry, it has been sent back for revision, BTRC chairman Shahjahan Mahmood told New Age on Monday.
State-owned finance provider plans big with low-cost housing
Low-cost housing would be the next big thing for the real estate sector. Bangladesh House Building Finance Corporation (BHBFC) would give priority to home loan applicants who opt for low-cost technology. One such technology makes use of hollow bricks of uniform shape and size instead of the conventional ones. The bricks require a very low amount of plaster, which helps cut construction costs to a great extent.