Bangladesh to Receive Third IMF Loan Installment
The International Monetary Fund (IMF) Executive Council is set to meet on Monday to discuss the proposal to waive the third tranche of debt for Bangladesh. The proposal, if approved, will provide significant financial relief to Bangladesh, potentially boosting the country’s foreign exchange reserves and alleviating some of the
Increased Costs for SIM-Dependent Mobile Services
The proposed national budget for the fiscal year 2024-2025 in Bangladesh has sparked concerns among mobile phone users and telecom operators alike, as the government plans to increase taxes on SIM-based mobile services. Finance Minister Abul Hasan Mahmud Ali presented the budget in the National Parliament, outlining changes that are poised to impact telecommunication services in the country. Key Proposals The Finance Minister proposed raising the supplementary duty on SIM-based mobile services from 15 percent to 20 percent. Additionally, the value-added tax (VAT) on each SIM or e-SIM card
Fiscal Reforms : Overview of Proposed Budget Measures
The proposed budget for the fiscal year 2024-25 in Bangladesh brings significant reforms across various sectors, aiming to streamline taxation, enhance revenue collection, and promote equity in economic policies. Key highlights include: 1. Duty Imposition on MPs' Car Imports Members of Parliament (MPs) will no longer enjoy duty-free privileges on car imports. A 25% supplementary duty and 15% tax will be imposed on MP car imports, aligning with efforts to reduce discrimination and promote fairness in taxation. 2. Unchanged Baggage Rules Current baggage rules, allowing passengers
