Dhaka, Bangladesh (BBN) – The BBN has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
Tortuous rules dealing with tax evasion up for a change
Tax intelligence seeks to create a legal window for taxpayers to pay their evaded taxes, detected by the taxmen, in a simpler way without having to pass through a tortuous process.
The Central Intelligence Cell (CIC) under the National Board of Revenue (NBR) has found out that in majority of the cases the tax-dodgers admit to the CIC’s demand on tax-evasion.
In a recent letter, CIC Director-General Md Belal Uddin proposed to the income-tax-policy wing for incorporating a provision styled ‘agreed disclosure’ into the existing income-tax law.
BTRC to widen access to spectrum auction
The telecom regulator plans to bring changes to its spectrum auction guideline to ensure participation of all mobile operators in the upcoming spectrum auction.
The amendments will also create scope for a new operator to enter the market. In the 1,800 band, Bangladesh Telecommunication Regulatory Commission has proposed dividing the 10.6MHz spectrum into three slots, up from two now.
The BTRC also proposed allowing the operators that have more than 20MHz spectrum to take part in the auction in the 1,800 band. Now only Grameenphone has more than 20MHz spectrum.
Tremor panic hits RMG production
An earthquake that jolted the country just past Saturday noon hampered production in about 50 per cent readymade garment factories across the country, said industry people.
The authorities in many factories had to suspend their operations as their workers, who rushed out of the factories for safety, did not come back in the consequence of the tremor aftershock, they said. A day after the second anniversary of shocking Rana Plaza building collapse that killed scores of garment workers the quake sent a shockwave among the factory employees.
Bangladesh’s Western Marine to build 10 ships for Indian company
Western Marine Shipyard (WMS), a leading shipbuilder, on Saturday announced that the company will build 10 cargo ships for Indian business conglomerate Jindal Group.
This was disclosed at a press conference held at a city hotel on Saturday. Industries Minister Amir Hussain Amu, Deputy High Commissioner of India Sandeep Chakravorty and Chairman of Bank Asia Limited A Rouf Chowdhury were, among others, present.
Pension scheme for NRBs: BB Governor
The government is planning to introduce a pension scheme for expatriate Bangladeshis which will benefit millions of non-resident Bangladeshis (NRBs) working abroad and help attract more foreign investments.
If every NRB contributes US$ 5, there will be a fund of billions of dollars for the scheme,” said Bangladesh Bank (BB) governor Atiur Rahman while he was addressing the inaugural ceremony of World Conference Series 2015 at a local hotel on Saturday.
NGOs: New VAT law to hurt poor, SMEs
The non-government organisations said the Vat and Supplementary Duty Act 2012 may increase poverty and hinder the growth of small and medium enterprises.
They urged the government to reconsider “prescriptions” made by the International Monetary Fund (IMF) on the new VAT law before it came into effect.
A number of 23 NGOs made the call from a human chain formed in front of the National Press Club in the city yesterday.
The NGOs are Arpan, Oline Knowledge Society, COAST Trust, EquityBd, Udayan Bangladesh, Bangladesh Labour Federation, SDO, Coastal Development Partnership, Kishani Sobha, DOCAP, National Labour Alliance, Nature Campaign Bangladesh, Prantojon, BAFLF, Bangladesh Krishak Federation, Voice, Labour Resource Centre, Sirajganj Flood Forum, Sangram, Synergy Institute and Humanity Watch.
ACI sells household brands to US firm for Tk 250.54cr
Local conglomerate ACI has sold a portion of its portfolio of household brands to a US-based company for Tk 250.54 crore, a move that is likely to boost competition and ensure quality products.
Under the deal inked on Friday, SC Johnson & Son will own the ACI brands, including ACI Aerosol, Mosquito Coil, Cockroach Killer Spray, Angelic Air Freshener and Vanish Toilet Cleaner.
ACI Formulations will continue to manufacture the insect control, air care and toilet care products for the next five years, while ACI Ltd will distribute them, according to a notice published by ACI yesterday.
The deal strengthens SC Johnson’s footprint in the growing Bangladesh market, Fisk Johnson, chairman and CEO of SC Johnson, said in a statement.
Bangladesh earthquake death toll now 5
Five people including a woman school teacher died and nearly 150 were injured in different parts of Bangladesh in time of evacuation during a strong earthquake followed by an aftershock. A strong earthquake measuring 7.5 on the Richter Scale jolted different parts of Bangladesh Saturday afternoon.
Later, another aftershock at the strengths of 6.6 was also felt in the country, reports the USGS.
A women school teacher died when panic gripped her during the earthquake in Pabna, reports Channel 24, a private television channel of Bangladesh.