From the National Parliament Building:
The Finance Bill 2019 has been passed in the National Parliament by bringing several changes and amendments including the incentives revision in the capital market, the amending of the duty rate of imported products, the introduction of multiple tax rates, the increase in tax-free dividend limit of small investors in the market.
On Saturday (June 29), Prime Minister Sheikh Hasina raised the Finance Bill in Parliament on behalf of the Finance Minister, it will be passed by voice vote.
‘Our finance minister is sick. He has dengue,’ he said, "wishing him to be in Parliament. I wish him well," said Prime Minister Sheikh Hasina.’
On June 13 this year, the National Parliament has proposed a budget for the fiscal year 2019-20. After presenting the budget, it is proposed to make TIN number mandatory in the case of electricity connection and to pay tax rate at the source of the certificate, but no amendment has been brought in these two poisons.
The proposed budget proposal has been upheld in the bill passed. The proposed budget is supposed to be passed in Parliament on Sunday (June 30).
Prime Minister Sheikh Hasina said that the stock dividend will be paid in the same amount as stock dividends that any listed company will pay in the same amount of cash dividend, in this case, the amount of stock dividend is more than the cash dividend, in that case, all stock dividends should be taxed at the rate of 10 percent.
‘There is a company's tax profit in the capital market, you can transfer 70 percent of the net profit, including earnings, reserves, and the remaining 30 percent stock, dividend and cash dividends. If it fails, it will have to pay tax on the total amount of money, including retaining earnings and reserves.’
He said that the tax-free dividend of small investors in the Sheter market will be increased from Tk 25,000 to Tk 50,000.
‘However, at the rates below 15 percent, there is no opportunity to pay the instrument tax, but the businessmen have demanded that the businessmen receive the materials tax instead of the reduced rate and pay the tax at the rate of 15 percent. In addition to the reduced tax rate, someone wants to. So that you can participate in the retreat system with 15 percent VAT - that provision will be brought in the law.’
Sheikh Hasina said, instead of 5 percent of the yarn industry, it is decided to impose a fixed rate of 4 per kg of yarn. In the proposed budget, several tariffs have been increased and increased in the proposed budget. In that case, it should be noted that the paper and gas manufacturing industry of the country should not be affected.
‘In the country to prevent misuse of incentives and bond systems in the domestic printing industry The duty rate of paper mills that are not in production will be rationalized. The duty rate of the imported products in the proposed budget will be determined in full.’
Prime Minister Sheikh Hasina said that these proposals are not in place after the statement of 10 members of the opposition parliament (MP) of the public opinion verification brought on the money bill.
He said, "On the other ministers type pregnancy, the opposition members can have an opportunity to discuss all the poisons. Our MPs have also discussed and given their speeches."
Sheikh Hasina said, "They have come here in the morbidity of the loan defaulters but the culture of the loan defaulted when the military was killed after the assassination of Bangabandhu. The rulers came and introduced this loan defaulting culture, giving opportunities to a class of businesses illegally. It is very difficult to get out of here in a day and then take action.
Regarding the whitening of black money, the Prime Minister said that there is a lot of undisclosed money that comes in. There is no opportunity to use this money, so this system is to provide some facilities. But we have zero tolerance against corruption, a member said in a Swiss bank.
‘In the last election, BNP nominated 692 people in 300 seats. 2 people in some seats, 3 people in some seats. This was done through nomination trade. Where did that money go? You will get the account only after taking it,’ he added.
The Prime Minister said, it has been said that the welfare state is about 8 percent.
Earlier, on June 13, 2019-20, a budget of Tk 5 lakh 23 thousand 190 crore was presented in the parliament for the financial year 2019-20. Then 270 MPs participated in the budget discussion in the parliament.