14Sep

Non-EPZ firms can pay foreign staffers in dollars

[source: The Business Standard] The government is going to allow firms outside of the Export Processing Zone (EPZ) to pay their foreign employees in dollars. This has been a long-standing demand of companies and would make the revenue board better able to tax the foreigners. The...
07Sep

Loan moratorium may be extended further

The central bank is likely to extend the ongoing moratorium on the payment of loan instalments by another three months to December as borrowers are still struggling to make a comeback from the coronavirus pandemic. The moratorium on bank loan payments was introduced in the middle...
06Sep

NBR to finalise draft income tax law by Sept

The National Board of Revenue has taken a move to finalise the draft of the new Income Tax Act-2020 by this month to expedite introduction of the new law. Officials said that the major objectives of the new law were to incorporate the international best practices,...
31Aug

Singer Bangladesh to merge with subsidiary to cut costs

Publicly listed Singer Bangladesh Ltd will merge with its non-listed subsidiary company, International Appliances Ltd, in order to curb costs by reducing corporate taxes. An official of Singer Bangladesh told The Business Standard that the merger will help reduce corporate taxes as non-listed companies must pay...
11Aug

NRBs can now park their funds in FDR, DPS

Non-resident Bangladeshis (NRBs) can now keep their funds in the form of Fixed Deposit Receipts (FDR) and Deposit Plus Schemes (DPS) with local lenders following a central bank directive yesterday. Earlier, the NRBs were allowed to open savings or current accounts with banks but did...
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