Business review meeting for the year 2023 of Dhaka Bank held

A business review meeting for the year 2023 of Dhaka Bank Limited was held at Radisson Blu Dhaka on Saturday. Abdul Hai Sarker, chairman of the board of directors of the bank, inaugurated the meeting as the chief guest while Emranul Huq, managing director & CEO of Dhaka Bank, presided over the meeting. CEO of Dhaka Bank Foundation Arham Masudul Huq was also present.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/business-review-meeting-for-the-year-2023-of-dhaka-bank-held-1685296855

NBR to engage agents to help people file tax returns

The tax authority, for the first time, is going to engage individuals to help new taxpayers file tax return in a bid to increase compliance and narrow the gap between registered taxpayers and regular return filers. As planned, the National Board of Revenue (NBR) will provide an incentive to individuals, to be named “Tax Return Preparers (TRPs)”, to help it expand the number of tax return filers, which was 36 per cent of the total Taxpayers Identification Number (TIN) holders at 88 lakh as of April this year. If they can bring new taxpayers in the return filing, they will get a commission from the NBR on the tax paid by the taxpayers, he said, adding that there were practices of the TRPs in the US and Australia. The tax authority will provide a two per cent incentive on the next Tk 15,000 tax and one per cent for next Tk 50,000 of tax. The rate of incentive will be 0.5 per cent on the remaining of amount tax to be paid by taxpayers. This will be valid for the first three years, according to a draft rule.

Source: https://www.thedailystar.net/business/economy/news/nbr-engage-agents-help-people-file-tax-returns-3332096

Govt to avoid being guarantor of loans to reduce risk

The government plans a significant reduction in loan guarantees for state-owned enterprises in a bid to boost the capacity of the institutions and reduce external debt burden. Finance ministry sources have revealed that under the new measures, the government will cease to guarantee loans for government institutions or projects except for those deemed genuinely important in the public interest e.g. the TCB’s open market sale of essentials at subsidised rates and import of fertilisers. The move comes against the backdrop of a staggering 70% increase in the volume of guarantees against loans provided by various domestic and foreign lenders to state-owned enterprises since 2019. According to information revealed in the budget for the current fiscal 2022-23, the government had extended guarantees of Tk92,602 crore against loans taken by various state institutions until 30 June 2022, which was Tk57,000 three years ago.

Source: https://www.tbsnews.net/economy/govt-avoid-being-guarantor-loans-reduce-risk-639162