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Facebook, You Tube under VAT net from July 1 in Bangladesh
Rtv online report
29 May 2019, 00:00
Platforms of internet giant like Facebook, Google and You Tube are being brought under VAT law with effect from July 1. To impose tax on advertisement given in these platforms the government has taken the initiatives.
Concerned said, as a result such types of companies have to appoint representatives or to open office in Bangladesh very soon. The government will collect VAT from them.
VAT Online Project Director of National Board of Revenue (NBR) Syed Mushfiqur Rahman said, the government is not getting mentionable VAT from video streaming site like You Tube.
He said, in fact they have not opened any office in Bangladesh. But after enacting the law they have to open office or appoint representative.
According to the information of e-commerce association, e-CAB, more than 50 thousand facebook pages are associated with e-commerce in Bangladesh. Although the number is more than that in real.
According to e-CAB, each of the e-commerce firms spend at least 8 dollars to 10 thousand dollars per month for digital advertisement and yearly the expenditure is nearly 1 lakh dollars.
But the government is not getting mentionable money from that.
The government can collect handsome amount of revenue from this sector if the new law is effective.
AH
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BASIC Bank to merge with City Bank
This time, BASIC Bank will merge with City Bank.
This decision was taken in a meeting held at Bangladesh Bank on Monday.
The decision was taken at a meeting held at Bangladesh Bank on Monday (April 8). The meeting was held between Bangladesh Bank Governor Abdur Rauf Talukdar and City Bank Chairman Aziz Al Kaiser along with Managing Director (MD) Mashrur Arefin.
Earlier on March 19, City Bank's board was advised to merge BASIC Bank. Then the matter was discussed between the boards of City and BASIC Bank. According to some sources, even if the two banks are merged, they will report separate financials for the next three years.
Gold prices hit a record high
Gold prices creating records one after another in the world market. The price of this precious metal is constantly increasing.
For the first time in history, gold prices rose above $2,400 per ounce to an all-time high on Friday ( April 12).
Earlier, on April 5, gold prices crossed $ 2,300 an ounce for the first time in the world market. Just seven days later, on Friday, the price exceeded $ 2,400. Which is the highest in the world market.
Experts had expected the price of gold to exceed $ 2,300 per ounce this year. It has already exceeded. The price of gold will increase further.
Economist Mahfuz Kabir said that the price of gold is increasing in the world market mainly due to the Federal Reserve's indication of reducing interest rates and geopolitical tensions. When interest rates fall, people choose gold as a medium of investment. As a result, the price surges. Gold is now being sold at the highest price in the world market. This price may increase further.
Bottled Soybean oil prices raised by Tk 4 per litre
The price of bottled soybean oil has been hiked by Tk 4 on the other hand the price of loose soybean oil reduced by Tk 2 per litre.
State Minister for Commerce Ahasanul Islam said this at a press briefing at the secretariat on Thursday (April 18).
According to the new decision, price of bottled soybean oil hiked to Tk 167 from Tk 163 per litre.
The State Minister said that the price of loose soybean oil has been reduced to Tk 147 from Tk 149 per liter. However, the price of bottled soybean oil has been increased from Tk 163. This price will be effective from tomorrow.
Earlier, on Monday Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers proposed the government to raise the price of soybean oil by Tk 10 to Tk 173 per liter.
Gold prices slashed by Tk 3,138 per bhori
Bangladesh Jeweller’s Association (Bajus) has reduced the price of gold after three consecutive hikes this month.
The price of gold has been reduced again in the country's market after three days of fixing the new price.
The price of 22 carat gold has been reduced by Tk 3,138 per bhori (11.664 grams) and the new price has been fixed. The price of per bhori of good quality gold (22 Carat)
is 1 lakh 16 thousand 290 taka.
The decision was taken at a meeting of the Bajus Standing Committee on Tuesday (April 23). This information was given in a notification signed by the chairman of the committee Masudur Rahman.
Bangladesh Jewelers Association has fixed the new price of gold considering the overall situation, said Masudur Rahman
However, the price of 21 carat gold has been reduced by Tk 3,009 to Tk 1,10,995.
Gold prices slashed by Tk 629
The price of gold has slashed again. Bangladesh Jewellers Association (Bajus) has reduced the prices of gold by Tk 629 per bhori (11.664gm).
This information was given in a press release signed by Masudur Rahman, chairman of the Standing Committee on Price Fixation and Monitoring cell of (Bajus) on Saturday (April 27).
The new revised prices will be effective on Saturday (April 27). It will remain in effect until further notice.
The price of good quality gold (22 carat gold) has been reduced by Tk 630 per bhori. The price of 22 carat gold will now cost Tk 1,12,931 per bhori. Earlier the price was TK 1,13,561.
India to export 99150 tonnes of onions to Bangladesh
India has approved the export of about one lakh tonnes of onion to six countries, including Bangladesh, amid onion export ban.
The approval eased the earlier ban on sending onions produced mainly in Maharashtra to six countries, including three neighbouring countries.
The countries are the United Arab Emirates, Bhutan, Bahrain, Mauritius, Sri Lanka, and Bangladesh according to the Times of India said on Saturday ( April 27)
The National Cooperative Exports Limited or NCEL of India is the agency will export onions to these countries.
Apart from this, the Directorate General of Foreign Trade (DGFT) has also ordered the export of 2,000 tonnes of white onion specially cultivated for the Middle East and European countries.
Gold prices drop again by Tk1,155 per bhori
Extreme instability is being observed in the gold market. Bangladesh Jewellers Association (Bajus) has reduced the price of this precious item for the sixth time in a raw in the last seven days after increasing it three times this month.
Bajus has issued a notification fixing the new price of gold in the country's market on Monday (April 29).
As a result, the price of 22-carat gold has dropped by Tk1,155 per bhori.
The price of 21 carat gold has been fixed at TK1,11,461 for one bhori (11.664 grams). The previous price was Tk1,12,615.
According to the notification, the price of Tejabi Gold (Pure Gold) has decreased in the local market. As a result, the new price of gold has been fixed considering the overall situation.
