CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed.
NBR faces difficulties in automating tax return
National Board of Revenue had to extend the deadlines three times for digitising submission of income tax returns as the field offices are facing difficulties in completing the process. Only around 60 per cent of the total returns have been digitised in the fiscal year 2016-17 due to inadequate manpower and logistic supports.
Given the current situation, it would be difficult for the field offices to get the job done by the deadline with having the returns submitted this FY, in addition to the last FY’s pending 0.6 million or 40 per cent.
Bangladesh resumes coal import from India
Bangladesh has resumed importing coal from India which had temporarily been suspended by another court order on environment grounds. A court from India recently lifted the ban on the export. Due to the suspension of the imports from the India states of Meghalaya and Assam, the country has suffered a huge loss as the government earns Tk 2.0 billion annually in revenues. The resumption of import has provided traders and importers and labourers a sigh of relief.
Japanese exports gain momentum in November
Japanese exports grew 16.2 per cent in November 2017, a gain which was originally forecasted at 14.6 per cent. Ministry of Finance of Japan revealed the data which yet again points to the growing momentum in the world’s third-biggest economy. In contrast, inflation remained stubbornly low and well off the central bank’s target of 2.0 per cent. Inflation expectations heightened only a touch in December from three months ago, despite a tight labour market and business confidence at over a decade high.
