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How to tax a multinational

For too long, multinational corporations—and digital firms in particular—have used existing rules to avoid paying taxes in countries where they do much of their business. For some time now, multinational companies (MNCs) have been gaming the rules of the global economy to minimize their tax liability—or even eliminate it altogether. And for some time now, the Independent Commission for the Reform ... Read More »

No compromise over tobacco, says taxation chief

Dhaka, Apr 7 (UNB) – Chairman of the National Board of Revenue (NBR) Md Mosharraf Hossain Bhuiyan on Sunday said they will make no compromise over the issue of tobacco as Prime Minister Sheikh Hasina expressed her commitment to make Bangladesh a tobacco-free country. He came up with the remarks at a pre-budget discussion with the representatives of Anti-Tobacco Media ... Read More »

Ex-Customs Commissioner sent to jail on illegal property charge

Dhaka, April 01 – A Dhaka court on Monday sent a former Customs Commissioner and former member of Customs, Excise and VAT Appellate Tribunal to the jail in a graft case filed for acquiring illegal property. The Metropolitan Sessions Judge of Dhaka, KM Imrul Kayes passed the order rejecting the accused Mohammad Nurul Islam’s bail plea. On October 2, last ... Read More »

Life tax exemption for women with 4 or more kids in Hungary

Hungary, Feb 11 (AP/UNB) — Hungary’s government is greatly increasing financial aid and subsidies for families with several children, the country’s prime minister said Sunday. The measures announced by Viktor Orban during his “state of the nation” speech are meant to encourage women to have more children and reverse Hungary’s population decline. The benefits include a lifetime personal income-tax exemption ... Read More »

Task force to identify, bring foreign workers under tax net

The National Board of Revenue (NBR)is going to form a taskforce to identify the foreign nationals working in Bangladesh to bring them under the tax net. There will be representatives of Bangladesh Investment Development Authority (Bida), National Security Intelligence (NSI) and police in the taskforce apart from the NBR. “This taskforce will mainly work at the field level and conduct ... Read More »

Incompetence and inability to run WTO secretariat alleged

DG did not read the report issued by WTO-IMF-WB at Bali Geneva, 17 Oct (D. Ravi Kanth) – The WTO Director-General Roberto Azevedo said on Tuesday that he has not had the opportunity to read the report on “Reinvigorating Trade and Inclusive Growth” prepared by his secretariat along with the World Bank and the International Monetary Fund, which calls for ... Read More »

Trade Wars: Is there an off-ramp?

By Askiah Adam That an economic world war has already started is beyond dispute. Whether it is Washington or Trump who has lost it is immaterial but between the sanctions imposed on several countries and prohibitive tariffs inflicted on friends and foes alike most are warning against a catastrophe, not just for those directly involved, but the world generally. Read More »

More UAE consumers struggle to make ends meet in Q2

A higher percentage of UAE consumers reported struggling to make end meets following the introduction of value added tax in the second quarter of the year compared to the first, according to a new survey. Comparison site Yallacompare said its consumer confidence tracker survey of 1,347 UAE residents showed 13.9 per cent had issues meeting their basic needs compared to ... Read More »

Trade war – Developing countries should respond

By Martin Kh or Penang, Malaysia, Jul 24 2018 (IPS) – The escalating trade war initiated by United States President Donald Trump is a major threat to world trade and the global economy. The developing countries will be among those most affected. It is time for them to respond and speak out. Read More »

India scraps tampon tax after campaign

India has scrapped its 12% tax on all sanitary products following months of campaigning by activists. The announcement comes a year after the government introduced the tax, known as GST, on all goods – including the 12% duty on menstrual hygiene products. Campaigners argued the tax would make them even more unaffordable in a country where an estimated four out ... Read More »

ভারতে স্যানিটারি পণ্যের ওপর আরোপ করা কর বাতিলের সিদ্ধান্ত

সক্রিয়তা কর্মীদের দীর্ঘ প্রচারণার পর সব ধরণের স্যানিটারি পণ্যের ওপর ১২% কর আরোপের সিদ্ধান্ত বর্জন করেছে ভারত। ভারত সরকার এই কর আরোপের এক বছর পর তা বাতিল করার ঘোষণা দিল। সব ধরণের মাসিক সংক্রান্ত স্বাস্থ্য বিষয়ক পণ্যের ওপর ১২% কর সহ সব পণ্যের ওপর আরোপ করা হয় জিএসট নামে পরিচিত এই কর। এর বিরুদ্ধে প্রচারণাকারীরা বলেন, ভারতের মত একটি দেশে ... Read More »

Balancing trade wars

By Sunita Narain New Delhi, Jul 20 2018 (IPS) – A global trade war has broken out. The United States fired the first salvo and there has been retaliation by the European Union, Canada, China and even India. Tariffs on certain imported goods have been increased in a tit-for-tat reaction. Analysts see it as a limited war in the understanding ... Read More »

UAE Cabinet approves VAT refund for tourists

Tourists visiting the UAE will be provided with a refund system for value-added tax (VAT), it was announced on recently. The UAE Cabinet has adopted a decision to implement the new system, which will be integrated between retail outlets with tax refund points, official news agency WAM reported. “The system will be implemented from the fourth quarter of 2018 in ... Read More »

Proposed tobacco taxes: Protect death trade, not public health

A post-budget press conference on the issue of tobacco taxation in the proposed budget for the FY 2018-19 was held Saturday (23 June, 2018) at the VIP Lounge of National Press Club at the initiative of PROGGA and Anti-Tobacco Media Alliance (ATMA) and in association with other anti-tobacco organizations including National Heart Foundation Bangladesh, Dhaka Ahsania Mission, Association for Community Development ... Read More »