Hassle-free tax payment at the ‘Tax Fair’

From today, the annual ‘Tax Fair’ will begin across the country. Over the past few years, the fair has been a convenient spot for citizens to file their tax returns without facing any problems. The Fair in Dhaka will go on at the Officers’ Club until November 19. At district level, the fair will run for four days while it will be held for two days at the upazila level. The annual event has been held since 2010. Over the years, its popularity has continued to increase. While helping taxpayers, it has also roped in new taxpayers. Tax plays an important role in the growth of the economy. Usually, most taxpayers are scared of filing taxes. Some go to lawyers who charge hefty fees. Others try to shift the burden to their office staff, as they fear corruption and other hassles at the government offices. But such problems do not occur at the tax fair. It is quite embarrassing that less than two per cent of the entire population of Bangladesh pay taxes. It is time that everyone became aware of their responsibilities to the nation and started paying taxes.

Source: http://today.thefinancialexpress.com.bd/editorial/hassle-free-tax-payment-at-the-tax-fair-1542035649

‘Integrate CSR’ with SDGs for better yield

Businesses through their Corporate Social Responsibility (CSR) integration with Sustainable Development Goals (SDGs) can make significant contribution to the society and have greater return from investments. Business people say that they pay around 43 per cent in taxes; so they can’t contribute more, but actually it depends on their will. Highlighting this year’s CSR report, the CSR Centre CEO said the report focused specially on youth engagement, health issues, road safety and well-being of the society. The report also emphasised how youth engagement could ensure the well-being of the society and strengthen sustainability in Bangladesh. The group allocated Tk 100 million in 2010 for CSR fund that stood at Tk 500 million in 2018, focusing specially on education, health, poverty alleviation, and other community development.

Source: http://today.thefinancialexpress.com.bd/last-page/integrate-csr-with-sdgs-for-better-yield-1542044831

‘King dollar’ benefits from European risks, growth fears

The dollar surged to nearly 17-month highs on Monday against a basket of major currencies as investors sought out the liquid and high-yielding currency against a backdrop of global growth worry and rising political risk in Italy and Britain. A 2-percent oil price jump initially supported European equities but the gains fizzled rapidly as fears grew for Italian lender Carige whose shares were suspended after reports of a capital hole. While Shanghai was lifted one percent by regulators’ promise to simplify share buybacks, MSCI’s world equity index was down 0.3 percent and Asian markets broadly weakened following Friday’s weak Wall Street close. All that, coupled with European political risks, conspired to push the dollar 0.6 percent higher against a basket of currencies. Sterling fell 1 percent while the euro, which comprises more than 50 percent of the dollar index, fell 0.7 percent to its lowest since July 2017. Markets were also spooked by reports that Banca Carige would need around 400 million euros ($451 million) to plug a hole in its capital base and Italy’s deposit protection fund could fill only part of it. That raises the specter of a banking crisis in the euro zone’s third-biggest economy, keeping Italy’s bond yield spread over Germany – the risk premium attached to Italian assets – around the psychologically key 300 basis-point mark. Italian bank shares fell 0.6 percent. Bernd Berg, global macro strategist at Woodman Asset Management, predicted the euro would tumble below $1.10 from the current $1.126 “as renewed eurozone and Brexit angst and a diverging economic outlook with a strong U.S. economy versus a weakening eurozone economy will trigger further euro selling pressure.”

Source: https://www.thedailystar.net/business/news/king-dollar-benefits-european-risks-growth-fears-1659796