Daily Banking News Links 16.12.2018

Daily Banking News Links 16.12.2018

Govt gives nod to further cut on RMG export tax to 0.25pc

New Age, 16 December 2018

Readymade garment exporters are set to receive a huge tax benefit just before the national elections as the government has decided to reduce the rate of source tax on export earnings further by 58 percent.

Finance minister Abul Maal Abdul Muhith has already conveyed his consent to National Board of Revenue to reduce the source tax to 0.25 percent from current 0.60 percent. 

Bank deposits stood at Tk10,38,694 as of June this year, up from Tk2,52,756 crore in 2008

Dhaka Tribune, 16 December 2018

Total deposits of all banks in Bangladesh have increased by Tk7,85,938 crore—along with the growing number of bank accounts—over the last ten years. 

Bank deposits stood at Tk10,38,694 as of June this year, up from Tk2,52,756 crore in 2008, according to a special report of Bangladesh Bank (BB). 

‘Rising costs’ of doing business cause concern

Businesses call for tax law reform, ensuring good governance
The Financial Express, 16 December 2018

Business leaders and economists have expressed concern over the rising cost of doing business, the reintroduction of higher interest rate and lack of skilled workforce to foster sustainable economic growth.. They said the shift of manufacturing factories from China is permanent and the window will

Ending VAT confusion

MS Siddiqui

The Financial Express, 16 December 2018

Value-added tax (VAT) is a consumption tax on a product declared by tax authority of a country whenever value is added at each stage of the supply chain, from production to the point of sale. VAT is an ultimate tax on consumer's expenditure. The beauty of VAT is that each person or company 

Stocks plunge amid rise in polls-centric violence

New Age, 16 December 2018

Dhaka stocks plunged in the past week without any positive trading session as investors went on share sales across the market as electioneering took a violent turn, making investors more cautious ahead of the national poll

Anti-dumping Duties

Bangladesh fails to hit back: govt official

The Daily Star, 16 December 2018

Bangladesh is facing anti-dumping duty from some countries including its neighbors but has failed to retaliate due to a lack of research and information, analysts said yesterday.

Import tax for gold on cards

The Daily Star, 16 December 2018

The government may impose an import tax of Tk 1,000 to Tk 2,000 per bhori of gold under a new policy, mainly to discourage smuggling and use of legal channels to bring in bullion

Disclaimer: Daily Banking News Links is an initiative of a collection of banking links at a glance of banking information for bankers. The links are not my property. Just to provide banking information in an umbrella for bankers.