DT e-Paper, Friday, Decdember 2, 2016

DT
12
Business
FRIDAY, DECEMBER 2, 2016
CAPITAL MARKET SNAPSHOT: THURSDAY
DSE Broad Index 4,823.0 0.5% ▲ Index 1,149.5 0.8% ▲ 30 Index 1,787.7 0.7% ▲ Turnover in Mn Tk 8,034.5 27.4% ▲ Turnover in Mn Vol 248.7 23.5% ▲
CSE All Share Index 14,840.6 0.4% ▲ 30 Index 13,245.1 0.5% ▲ Selected Index 9,023.3 0.4% ▲ Turnover in Mn Tk 535.9 35.7% ▲ Turnover in Mn Vol 20.4 41.5% ▲
Tax return submission record high
Over 1m income
tax returns
were submitted
as the deadline
for submission
ended on
November 30
• Syed Samiul Basher Anik
The National Board of Revenue
(NBR) has received a huge response
from the taxpayers with a 40% rise
in volume of income tax return
submission as the deadline expires
on November 30.
The taxpayers have so far submitted
about 1.5m income tax returns
for the fiscal year 2016-17 till
the last date of the submission.
According to official data compiled
by NBR, the numbers were
around 834,000 in 2014 while
815,000 in 2015 during the same
period.
The NBR has bagged over
Tk3,335 crore, a 207% rise from last
year, as income tax from the taxpayers
till November 30, this year. The
volume of tax collection was over
Tk1,390 crore in 2014 and around
Tk1,084 crore in 2015. The NBR had
compiled the data after the official
deadline for income tax return submission
expired on November 30.
A little over 151,000 individual
taxpayers have sought an extra-time
time for submission of
BB signs deal
with six banks for
green financing
• Tribune Business Desk
Bangladesh Bank (BB) yesterday
signed separate agreements with six
private banks to facilitate long-term
financing under the Green Transformation
Fund for export-oriented
textile and textile products and
leather manufacturing industries.
Under the agreements, the six
banks would provide long-term
financing for transforming the export-oriented
industries into green
manufacturing units, reports BSS.
The banks are Eastern Bank,
Jamuna Bank, Mercantile Bank,
Prime Bank, Shahjalal Islami Bank
and South East Bank. •
Taxpayers submitting income tax returns during the recent income tax fair in Dhaka
their returns this year.
According to the Income Tax
Act, taxpayers having annual income
above Tk2.50 lakh have to
pay their income taxes.
All the 649 circle offices under
31 income tax zones across the
country were open till 10pm on
Wednesday to facilitate the submission
of the income tax returns
as per deadline.
Besides, the taxpayers’ response
to register them with the electronic
Taxpayers Identification Number
was also appreciable.
The total number of e-TIN holders
in the country has crossed 2.4m
marks by November 30.
India wants transit in BD seaports
• Asif Showkat Kallol
India wants to use Bangladesh’s
Chittagong and Mongla seaports as
transit. The Indian authorities have
already sought permission from
Bangladesh in this regard.
The Indian High Commission in
Dhaka sent a letter to the shipping
ministry on October 18, 2016 requesting
the permission.
However, India has urged Bangladesh
not to impose any additional
fees on imports and exports,
customs duties and administrative
fees for the facility.
A shipping secretary level meeting
was held on November 16, 2015
and exchanged draft Standard Operating
Procedure (SOP) in New
Delhi.
The number would have crossed
2.5m if there were no temporary
problem with the NBR server that
hampered the registration process,
said NBR officials.
Appreciating mass response
from the taxpayers, NBR Chairman
Md Nojibur Rahman thanked taxpayers
and stakeholders for successful
observation of nationwide
income tax fair, income tax week
and income tax day 2016.
“The NBR is promised to provide
services like income tax fair to
the tax offices for round the year,”
said a NBR press release quoting
the chairman.
Volume of submission of income
RAJIB DHAR
tax returns, collection of income
tax and registration of electronic
taxpayer’s registration number
was highest among last three years
during income tax fair, income tax
week and income tax day, he said.
The NBR has celebrated income
tax fair from November 1-7, income
tax week from November 24-30
this year. It also celebrated the income
tax day 2016 on November
30, official deadline for submission
of returns.
Those, who have failed to submit
income tax returns by deadline,
will have to pay a 2% penalty
on the payable tax for delay of each
month. •
In the Indian High Commission
letter, it was stated that as per the
MoU, both countries will issue required
notification in a mutually
agreed time-frame to implement
the SOP deal.
Analysts say the tax should be
kept in mind when determining the
cost of transit because the Bangladesh
government will have to develop
the necessary infrastructure
for providing transit.
Analysts also said India is now
transiting its goods in poor infrastructure
like narrow roads in
Akhaura-Agartala from Kolkata.
They said it has not yet been finalised
that how much funds will
be given by India for developing
roads and highways.
The transit deal between Bangladesh
and India was initiated during
India Prime Minister Narendra
Modi’s visit to Dhaka last year. •
Tofail wants
multinational
firms in stock
market
• Tribune Business Desk
Commerce Minister Tofail Ahmed
has asked Bangladesh Securities
and Exchange Commission to draw
the multinational companies running
business in the country into
share market, BSS reports.
“Many multinational companies
have been doing business here and
making profits. I would tell BSEC
chairman to take steps to draw those
companies into the market,” he said
at the opening session of Bangladesh
Capital Market Expo 2016 at the Institution
of Diploma Engineers yesterday.
Online news portal Artha Suchak
organised the three-day fair.
Editor of the portal Ziaur Rahman
chaired the event which was
addressed, among others, by BSEC
Chairman Dr M Khairul Hossain,
Managing Director of Dhaka Stock
Exchange (DSE) KM Sajedur Rahman,
Md Saifur Rahman Majumder
of Chittagong Stock Exchange
(CSE), DSE Brokers Association
president Ahmed Rashid Lali and
Merchant Bankers Association
president Sayedur Rahman.
In his address, Tofail said the
capital market is now at a stable
position. The incident that took
place in 2010 in the capital market
was unexpected as many investors
lost their money.
He added that the merchant
banks and investors needed to be
more conscious at that time.
“The investors will have to be
given assurance for their investment.
Investors will not invest
their money if they do not find the
capital market stable and secure.”
People’s confidence in the capital
market has increased because
of Bangladesh Bank’s capital market
friendly policy, according to the
minister. •