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ICAB welcomes budget, but suggests lowering tax on online trading
The Institute of Chartered Accountants of Bangladesh (ICAB) has welcomed the national budget for FY26 in the challenging time with some observations such as lowering tax in online trading and cashless transaction.
The view was expressed at a post-budget press conference at ICAB's office here on Wednesday.
Speaking at the press conference, Maria Howlader, president of ICAB thanked the interim government that for making a major policy change for the first time in the history of Bangladesh.
A major financial instrument like the national budget has promised institutional recognition for the unpaid and unacknowledged services and household work of women in the country, and through this, the government is planning to include the economic value of women's unpaid labour in the calculation of the country's GDP.
ICAB and CIPFA, UK discuss Collaboration and public sector financial management
She also said, “We believe that expanding the tax net to increase the tax-GDP ratio is essential. We believe that the proper implementation of the ICAB Document Verification System (DVS) is making a significant contribution to achieving the desired goal of revenue collection and will contribute more in the future.”
The budget deficit has been set at 3.62 percent of GDP, which will be financed through domestic and foreign debt. The ICAB believes that setting a lower budget deficit is a wise move in the context of high inflation and limited revenue space.
The revenue collection target for the fiscal year has been set at Tk 5.64 lakh crore, which is 4.25 percent higher than the original target of Tk 5.41 lakh crore last year. It will be difficult to achieve this target with the existing tax structure and tax collection process.
However, it is not impossible to get close to this revenue collection target by modernising the tax structure and tax collection process, said the ICAB president.
“There is a plan to make it mandatory for all taxpayers to file their annual income tax returns online from next year. We believe that online return filing has gained wide acceptance among taxpayers. If all taxpayers can ensure online filing of their annual income tax returns, the number of return filers will increase,” said Maria.
In view of the persistent inflationary pressures, the new budget proposes to increase the tax-free income limit for individual taxpayers from Tk3.5 lakh to Tk3.75 lakh—but from the financial years 2025-26 and 2026-27. This tax will not be much of a relief for the lower- and middle-income earners, said ICAB observation.
Snehashis Barua, founding partner of accounting firm Snehasish Mahmud & Co gave a presentation on the proposed national budget.
He highlighted different issues of proposed budget including expecting GDP, interest rate, corporate tax, listed company tax and cashless transaction company taxes.
He said achieving the GDP of 6.5 percent will be very challenging as revenue shortfall pushes the government to reduce the ADP volume to Tk2.30 lakh crore. At the same time achieving revenue target of Tk5.64 lakh with 8.88 percent growth is almost impossible as the investment declined due to high cost of fund (higher interest rate).
Shubhashish Bose, CEO of ICAB and Mohammed Humayun Kabir, council member and past president also spoke at the event.
Md. Humayun Kabir FCA, vice president, South Asian Federation of Accountants ( SAFA), chairman TCLC and a former president of ICAB, moderated the question-answer session in the press conference.
6 months ago
DNCC to remove Eid day waste the same day: Administrator Azaz
All waste generated on the day of Eid-ul-Azha will be removed within the same day to keep the city clean, said Dhaka North City Corporation (DNCC) Administrator Mohammad Azaz on Wednesday.
“Nearly 20,000 tonnes of waste is expected to be produced this Eid. To ensure swift removal, around 10,000 workers from the city corporation will be deployed over a three-day period,” he said in response to journalists' question following a visit to the Aminbazar landfill site.
All preparations for waste management during Eid have been completed, the DNCC administrator said.
DNCC to collaborate with volunteers for conservation, greening of 33 canals in Dhaka
A total of 224 dump trucks, 381 pickup vans, and 24 payloaders will be engaged in continuous operation during the clean-up.
To support proper waste disposal, DNCC has distributed 1.25 million polythene bags, 2,500 sacks of bleaching powder and 4,000 cans of Savlon disinfectant, he added.
“Besides, a dedicated platform has been prepared at the Aminbazar landfill for dumping sacrificial animal waste, and two trenches have been excavated to ensure environmentally sound waste disposal,” he said, adding that a monitoring team comprising DNCC officials and staff has also been formed to oversee the waste management operation.
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As per the plan, sacrificial waste will first be collected and brought to Secondary Transfer Stations (STS), from where it will be transported to the Aminbazar landfill for final disposal, he added.
6 months ago
Jamaat to regain registration with ‘Scales’ symbol: EC Commissioner
Bangladesh Jamaat-e-Islami is set to regain its registration along with its traditional election symbol, the Scales (Dāripalla), very soon, a member of the Election Commission said on Wednesday.
“Jamaat-e-Islami will soon get back its registration. We are taking necessary steps. The Election Commission has made a decision in this regard,” Election Commissioner Abul Fazal Md Sanaullah told reporters following a meeting at the Election Commission Secretariat in Agargaon.
Chief Election Commissioner (CEC) AMM Nasir Uddin presided over the meeting, which was attended by other commissioners and senior officials.
Speaking about the party’s electoral symbol, Commissioner Sanaullah said the EC has taken a policy decision to return the scales symbol to Jamaat-e-Islami.
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While taking the decision to return ‘Scales’ symbol to Jamaat, the EC considered the Appellate Division’s directive to return the status quo ante, the registration notification issued on November 05, 2008 that awarded registration with ‘Scales’ symbol to Jamaat, the Article 90F (1) (b) of Representation of People Order (RPO) 1972 that states the symbols so allotted shall be kept reserved for it, unless it indicates its preference for any other prescribed symbol available, and other court’s directives and observations.
“Considering everything, the Election Commission has taken a decision in principle to give back its previous ‘Scales’ symbol to Jamaat-e-Islami. That means they will get back their party’s registration and symbol,” he said.
The Election Commissioner, however, said it will take time to get back the electoral symbol ‘Scales’ by completing the official process.
He said the EC has taken a decision to increase the number of enlisted electoral symbols for the parliamentary election to 100 from the existing 69.
On June 1 last, the Appellate Division set aside the High Court verdict that had declared the registration of Bangladesh Jamaat-e-Islami as a political party illegal in 2013.
6 months ago
Moving truck catches fire on Dhaka-Tangail highway
A fire swept through a moving truck on the Dhaka-Tangail Highway in Kaliakair upazila of Gazipur district on Wednesday, but no casualties were reported.
The truck was near Chandra Polli Bidyut area around at around 4 pm when the fire happened and was soon engulfed by it.
On information, a firefighting unit rushed to the spot and managed to bring the fire under control in about 30 minutes.
Housewife found dead in Gazipur
Md Iftekhar Rayhan, station officer of the Kaliakair Fire Service and Civil Defense said that the fire might have originated from a gas leak beneath the truck during the traffic standstill.
The mini-truck had earlier transported cattle from Rangpur to Dhaka, he said.
After unloading the cattle in Dhaka, the truck was returning to Rangpur with some passengers on board.
The vehicle got stuck in traffic when it reached near the Chandra Polli Bidyut area of the upazila.
At one stage, flames ignited in the truck's engine due to an underground gas leak at the spot.
The driver, his assistant and passengers managed to escape the truck quickly and narrowly avoided injury.
A severe traffic jam was created on both sides of the highway following the fire.
6 months ago
Emergency services resume at Ophthalmology Institute after week-long suspension
Emergency services at the National Institute of Ophthalmology and Hospital resumed on Wednesday morning, a week after suspension of operations following an alleged attack on medical staff.
Acting Director of the hospital Jan-e-Alam said that the emergency unit resumed at 8am.
But he could not confirm when full-scale services including outpatient and inpatient care would resume.
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“Outpatient and inpatient services remain suspended. To ease the suffering of patients, we have resumed emergency services on a limited scale. During the Eid holidays, only the emergency department will remain operational,” he said.
On May 28, injured July movement victims reportedly attacked hospital staff over alleged medical negligence, leaving around 15 hospital personnel, including doctors injured.
Following the attack, both doctors and staff halted all services.
Earlier on May 25, four July movement protesters who were receiving treatment at the hospital reportedly consumed poison alleging that no effective measures were being taken for proper medical care or rehabilitation.
The situation escalated further on May 27 when the protesters confined the hospital director to his office.
Later, he was rescued more than an hour later with the help of the army.
Later hospital employees began a work stoppage on May 28, demanding increased security.
6 months ago
Hajj begins as pilgrims arrive in Mina for day of Tarwiyah
The annual Hajj pilgrimage officially commenced today as pilgrims began arriving in Mina from Mecca in the early hours to observe the Day of Tarwiyah, a tradition rooted in the practices of Prophet Muhammad (PBUH).
Chanting the Talbiyah — “Here I am, O Allah, here I am. You have no partner, here I am” — the faithful made their way to Mina, also known as the Tent City. The movement of pilgrims marks the start of a deeply spiritual journey, which will continue through the coming days to Arafat and Muzdalifah.
This year, more than 1.47 million international pilgrims are joined by hundreds of thousands of domestic worshippers, reaffirming Hajj’s status as one of the largest religious gatherings globally.
Located in a valley just five kilometres east of the Grand Mosque in Mecca, Mina plays a pivotal role in the Hajj rites. The area is home to over 100,000 fire-resistant white tents, purpose-built to accommodate more than 2.6 million pilgrims. Designed with modern safety and hygiene in mind, the facilities in Mina reflect a remarkable combination of spiritual devotion and advanced planning.
The infrastructure, including an extensive network of roads, tunnels, and bridges, allows for efficient movement between the three key pilgrimage sites — Mina, Arafat, and Muzdalifah — and exemplifies the logistical sophistication underpinning the Kingdom’s Hajj operations.
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Dr Mohammed Al Qarni, Director General of Hajj and Umrah at the General Transportation Centre of the Royal Commission for Mecca City and the Holy Sites, confirmed that the transport of pilgrims to Arafat will take place through three main systems. The Mashair train is expected to carry 316,000 pilgrims, while traditional and multi-modal systems will facilitate the journey for another 720,000.
Meanwhile, Al Khayf Mosque in Mina, an important site of prayer during Hajj, has undergone significant enhancements. Prayer areas have been expanded with rugs spread across 27,000 square metres, while new smart air-conditioning systems with CO₂ sensors and automated cooling have been installed to ensure comfort amid the intense summer heat.
With high temperatures forecast, Saudi authorities have scaled up efforts to safeguard the health of pilgrims. Dr Abdullah Asir, Deputy Minister of Health, announced the deployment of 50,000 medical and administrative personnel — the largest medical team in Hajj history. The Ministry of Health has allocated over 700 hospital beds specifically for heat-related conditions, alongside three field hospitals and 71 emergency response points.
18 teams assigned to serve Bangladeshi hajj pilgrims in Mina
Ministry spokesperson Eng. Khaled Al Tala’a confirmed that the health of pilgrims remains stable and that the overall healthcare capacity has increased by 60% compared to last year. More than 98,000 medical services have already been delivered since pilgrims began arriving in the Kingdom.
As the sacred rituals of Hajj continue, the Kingdom of Saudi Arabia’s detailed preparations highlight its unwavering commitment to providing a secure, dignified, and spiritually enriching experience for every pilgrim.
Source: With inputs from Gulf News
6 months ago
Prof Yunus for ‘horror museum’ to document enforced disappearances
Chief Adviser Professor Muhammad Yunus on Monday said a ‘horror museum’ should be established to exhibit the findings of torture and persecution uncovered by the Inquiry Commission on Enforced Disappearances.
“The second interim report of the Commission primarily highlighted the severe torture endured by victims of enforced disappearance. Upon hearing these details, Professor Yunus said there should be a ‘horror museum’ to document this,” said his Press Secretary Shafiqul Alam.
Speaking at a press conference at the Foreign Service Academy on the Commission’s second interim report submitted to the Chief Adviser, he also said the horrific incidents of enforced disappearance that took place in Bangladesh were deeply disturbing for everyone.
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Referring to the establishment of the July–August Mass Revolution Memorial Museum at Gono Bhaban, Alam said part of that museum will be dedicated to the findings and evidence of how the horrific torture was inflicted on the victims of enforced disappearance.
Earlier, he said the Inquiry Commission, led by its chief Justice Moyeenul Islam Chowdhury, submitted its report to Professor Yunus at the State Guest House in Jamuna.
Three other members of the commission--Noor Khan, Sajjad Hossain, and Nabila Idris--were also present.
Narrating the findings of the report, Alam said the intelligence wing of the Rapid Action Battalion (RAB) acted as a killing force in cases of enforced disappearance. “They were the main actors behind the enforced disappearances.”
He said the report outlined how individuals were forcibly disappeared and how many were subsequently killed during the autocratic regime of Sheikh Hasina.
“The report was compiled based on the testimonies of victims of enforced disappearance, as well as accounts from a few perpetrators,” the CA’s Press Secretary said.
The Inquiry Commission on Enforced Disappearances has so far identified approximately 1,850 cases of enforced disappearance and continues to uncover new cases on a daily basis, he said, adding that the Commission has thoroughly scrutinised each of the 1,350 documented cases.
The commission members mentioned that the number of complaints could exceed 3,500, said the CA’s press wing.
They said more than 300 individuals are still missing among the victims of enforced disappearance.
After the report was submitted, the Chief Adviser said, “Arrangements must be made to publish the report on the website and in book form. There is interest in this not only within Bangladesh but globally as well.”
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At that time, he instructed the commission members to identify the urgent actions outlined in the report and specify which ministries are responsible for each, so that the government can begin work within a short timeframe.
One commission member told the Chief Adviser, “The incidents are so horrific that many of the involved officials and others suffer from remorse. They have contacted us as an effort for self-purification. Two officers even wrote letters formally requesting to get rid of it. These letters were found at Ganobhaban. The then Army Chief publicly acknowledged these letters.”
The commission chief requested the Chief Adviser to take initiatives so that the families of the missing persons can at least carry out banking transactions.
Under the existing law, he said, a person missing for seven years can be declared dead and he recommended amending the law to reduce this period to five years.
Prof Yunus advised the Commission to inform the government of the necessary steps so that action can be taken as soon as possible.
Thanking the commission members, the Chief Adviser said, “You are working despite fear, intimidation, and various threats. You are an inspiration to the people of this country. In the future, those who work for human rights will look up to you as an inspiration.”
Chief Adviser’s Deputy Press Secretary Abdul Kalam Azad Majumder and Senior Assistant Press Secretary Foyez Ahammad were also present at the press briefing.
6 months ago
Preparations for Eid-ul-Azha satisfactory: Home Adviser
The overall preparations including security arrangements ahead of the Eid-ul-Azha is satisfactory, said Home Affairs Adviser Lt Gen (retd) Md Jahangir Alam Chowdhury on Wednesday.
He made this remark while talking to reporters after visiting the sacrificial cattle market adjacent to Maitree Sangha Club in the capital’s North Shahjahanpur area.
A large number of Ansar members have been deployed in every cattle market this year to ensure security, he said.
DMP Commissioner's strict directives for Eid-ul-Azha haat operations
Besides, a control room has been opened on behalf of the leaseholders alongside police at the cattle markets, he said.
To prevent the entry of sick animals veterinary check-ups have been arranged, said the adviser.
Meanwhile, medical teams are on standby at the markets to provide immediate care if any buyer or seller falls sick or is injured.
“We want cattle prices to be reasonable so that both farmers and buyers can be benefited. If prices fall too low, farmers suffer losses and if they rise too high consumers are hurt. The goal is a balanced price point that protects the interests of both parties,” said the adviser.
IGP orders police to ensure safe, festive environment for Eid-ul-Azha celebration
Replying to a question, the adviser said that each cattle-carrying truck must display a banner indicating the specific market it is destined for.
6 months ago
AL leader Mintu gets bail in Jhenaidah MP Anar murder case
The High Court on Wednesday granted ad-interim bail to Awami League leader Saidul Karim Mintu in a case filed over the abduction and murder of Awami League lawmaker of Jhenaidah-4 Anwarul Azim Anar.
The HC bench of Justice Md Atoar Rahman and Justice Md Ali Reza passed the order on Monday, Advocate Prashanto Kumar said on Wednesday.
The court also issued a rule asking the government to explain as to why Mintu should not be granted permanent bail in the case.
Advocate Prashanto Kumar Karmakar and Barrister Ashraf stood for the petition while deputy attorney general Mohammad Abdul Baset represented the state.
The detective branch (DB) of police detained Saidul Karim Mintu from the capital’s Dhanmondi area on June 11, 2024.
Later, he was shown arrested in the case.
MP Anar went to Kolkata on May 11, last year, for medical treatment and went missing on May 14, 2024 after leaving the flat in Kolkata.
DB chief sounding satisfied with investigation so far into MP Anar's murder
A case was filed on May 22, 2024 with the capital’s Sher-e-Bangla Nagar Police following a complaint lodged by the victim’s daughter Mumtarin Ferdous Dorin.
6 months ago
LPG operators oppose govt’s VAT hike proposal
The LPG Operators Association of Bangladesh (LOAB) has strongly opposed the government’s proposal to increase Value Added Tax (VAT) on Liquefied Petroleum Gas (LPG) cylinders from 7.5% to 10%.
They warned that the move could severely destabilise the country’s energy security and hurt millions of low-income families.
LOAB President Muhammed Amirul Haque in a statement said the proposed tax hike poses a ‘serious threat’ at a time when domestic natural gas reserves are dwindling and new household gas connections have already been suspended.
“LPG is the primary alternative fuel for millions of families. Increasing VAT will make it less affordable and limit access for those who need it the most,” he said.
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According to LOAB, more than 1.5 million tons of LPG are imported annually by the private sector with 97% of it used for cooking.
The usage is equivalent to approximately 2 million cubic feet per day (mmcfd) of natural gas and supports over 40 lakh households across the country.
Amirul Haque said the widespread use of LPG plays a critical role in reducing deforestation especially in rural areas where it replaces traditional biomass fuels like firewood.
“With more than 4 crore LPG cylinders in circulation and rising demand each year, this tax increase could not only threaten clean energy adoption but also place an undue burden on low-income consumers,” he added.
LOAB has called on the government to reconsider the proposed VAT increase in the interest of national energy security, environmental sustainability, and public welfare.
6 months ago