Others
NBR counting losses for rampant tax evasion
Despite taking VAT registration, around 22 percent of companies are not submitting their VAT returns.
A large number of individuals are also remaining out of the tax network despite having taxable income.
A total of 26 lakh people or 52.41 percent of the taxpayers did not submit their income tax returns in the last fiscal year. Of the 50 lakh Taxpayers Identification Number (TIN) holders, some 24 lakh submitted their income tax returns during last fiscal year.
As a result, the National Board of Revenue is missing a large amount of revenue.
Though the companies are taking VAT for products or services from customers they are not submitting money to the government exchequer.
The visiting IMF officials have advised the NBR to increase revenue collection in different forms.
Economists and sector insiders have repeatedly suggested reforming the country’s revenue sector in a way that the tax ratio in the GDP would grow as per the volume of the economy.
Read more: 20% year-on-year growth: NBR collected record Tk 8,733cr VAT in Aug
In south Asia Bangladesh is the lowest tax-GDP ratio. A 2016 World Bank report said that the South Asian tax GDP ratio is 19.1 percent in Nepal, 16 percent in Bhutan, 12 percent in India, 9.9 percent in Afghanistan, 9.1 percent in the Maldive while in Bangladesh it is 8.8 percent. In 2017 Bangladesh's position in tax GDP ratio slid to 7.6.
While official data portrays the burgeoning growth of Bangladesh's economy, tax collection shows an almost opposite trend.
The tax collection as a percentage of GDP has been stuck at around 7.6 percent in 2017, the lowest in South Asia and one of the lowest in the world.
This prompts economists to question the disconnect since revenue receipts should increase in line with the expansion of the economy.
Dr Muhammad Abdul Mazid, former NBR chairman, told UNB that large companies might be avoiding VAT through different ways that the NBR cannot detect owing to a lack of capacity.
He suggested enhancing the capacity of revenue officials, along with ensuring good governance in the revenue sector so that people encourage paying taxes in a hassle-free environment.
Dr Ahsan H Mansur, executive director at Policy Research Institute (PRI), said businesses could not fully make a turnaround from the pandemic-induced losses in FY2022 because of an economic slowdown to some extent, which led to lower growth in VAT collection from large companies.
Commenting on the poor collection from the banking sector, he said banks are now going through a bad patch with a slump in profitability.
Mansur also suggested reforming the total VAT and tax sector to grow the revenue collection from domestic sources, in line with global standards, he said.
Read more: Tax return document not needed for loans up to Tk 20 lakh: NBR
"This shows a big mismatch," said Selim Raihan, executive director of the South Asian Network on Economic Modeling.
"It shows that there is no relation between GDP growth and revenue collection although the tax-to-GDP ratio increases in other countries because of the growth of the economy. In the case of Bangladesh, it is a puzzle,” he added.
According to NBR, there are 3.72 lakh companies that have taken VAT registration. Although among them 2.90 companies or 78.21 percent file VAT returns regularly.
However, still, around 22 percent of companies do not submit VAT returns, according to official sources at the VAT Division of the NBR.
A senior official of the NBR's VAT Division told UNB that 3.72 lakh businesses have registered VAT till August this year. Among them, 2.43 lakh or 83.66 percent have filed returns in online platform.
As per the VAT Act, companies which have annual turnover below Tk50 lakh do not need VAT registration.
Climate Change: Int’l community must act with fund and solutions to help most vulnerable nations
Climate expert Prof Dr Saleemul Huq says that the international community must act and support the worst affected and least responsible nations with "funding and solutions" to deal with climate change impacts.
Climate change unequally impacts vulnerable nations and indiscriminately creates global crises causing chaos, new poverty and violation of human rights.
“COP27 must make good on this agenda,” said Prof Saleemul, Chair of the Climate Vulnerable Forum (CVF) expert advisory group, speaking at a report launching event on Wednesday.
The flagship report entitled “Climate Vulnerability Monitor, 3rd edition: A Planet on Fire”, commissioned by the CVF and the Vulnerable Twenty (V20) Group of Ministers of Finance of the CVF presented stark proof that climate change impacts generate loss and damage, globally creating crises for society, human health and development.
Prof Saleemul said the Climate Vulnerability Monitor provides them with the anatomy of the loss and damage the world now lives with because of decades of insufficient climate inaction by rich, powerful and responsible countries.
He said the detailed impact data and evidence presented by the CVM3 provides sobering reading on just how bad the situation already is, and how much worse it will become with fast rising global health risks, extreme heat events, and economic shocks, to name a few.
Read more: Bangladesh to be voice of climate vulnerable countries: FM
“Loss and damage have become the biggest risk to global prosperity in the present age,” Prof Saleemul quoted as saying in a message received from Accra, Ghana.
Disclosing comprehensive new data on the impact of climate change, the report also highlighted the asymmetric consequences for society which deepen global inequalities with poorer and more vulnerable nations the hardest hit.
Ban Ki-moon, Chairman of the Board of Global Center on Adaptation and 8th UN secretary-general, said with this third edition “CVM” they see clearly just how much humanity finds itself at the crossroads. Sadly, we have become a “Planet on Fire”, as the report’s title highlights.
Read more: "Loss and damage has become the biggest risk to global prosperity in the present age"
“If we do not act now, by the end of the century, millions of lives would be lost every single year because of scorching heat,” said the former UN secretary general.
Nation observing Jail Killing Day today
The nation is observing the Jail Killing Day on Thursday with due solemnity.
Prime Minister Sheikh Hasina paid tributes to Father of the Nation Bangabandhu Sheikh Mujibur Rahman and four national leaders marking the day.The day is observed to remember national leaders Syed Nazrul Islam, Tajuddin Ahmed, Captain M Mansur Ali and AHM Quamruzzaman who were assassinated inside Dhaka Central Jail on November 3 in 1975. They played a crucial role in the 1971 War of Liberation of Bangladesh.The massacre happened barely three months after anti-liberation elements assassinated Bangabandhu and most of his family members on August 15, 1975 at his 32 Dhanmandi residence.
In observance of the day the premier placed wreaths at the portrait of Bangabandhu in front of Bangabandhu Memorial Museum at 32 Dhanmondi here.
Hasina laid wreaths first as the head of the government and then as president of the ruling Awami League early in the morning.
After placing the wreaths, she stood in solemn silence there for some time as a mark of profound respect to the memories of Bangabandhu and the four national leaders.
She was accompanied by by central leaders of the party.
The PM later went to the Banani Graveyard to pay tributes to martyrs of the August 15 and November 3, 1975 massacres.
Different political parties will observe Jail Killing Day, a dark episode in the country's history.
The Awami League and its affiliated organisations hoisted the national flag and the party flag at half-mast. They also wear black badges of mourning.
Meanwhile, President Abdul Hamid and Prime Minister Sheikh Hasina issued separate messages on the occasion.
In a message, the President said: "The aim of the killers was to erase the spirit of the Liberation War from the minds of the young generation apart from giving rise to an undemocratic autocratic rule which failed."
"The nation will always remember the contributions of the four national leaders with due respect."
Prime Minister Sheikh Hasina said: "The killing of the four national leaders was the continuation of the assassination of the Father of the Nation and most of his family. Through it, the defeated forces and anti-state quarters made an evil attempt to destroy the Liberation War spirit and render the Bengali national leaderless by erasing the name of the Awami League."
On November 3, 1975, four national leaders and heroes of the country’s Liberation War -- Syed Nazrul Islam, Tajuddin Ahmad, Captain Mansur Ali and AHM Quamruzzaman -- were assassinated inside the Dhaka Central Jail.
The four leaders played a key role in leading the Mujibnagar government, that led the Liberation War effort in 1971 with Syed Nazrul Islam as the acting president, Tajuddin Ahmad as the prime minister, Mansur Ali as the finance minister and AHM Qamruzzaman as the home, relief and rehabilitation minister.
BNP rally: Commuters suffer as launch, speedboat services suspended in Barishal
Launch and speedboat services have been suspended in Barisahl district, causing suffering to commuter.
Speedboat movement was halted on Wednesday evening while launch on Thursday morning amid BNP’s allegation that launch owners went on the sudden strike as per the government’s directive ahead of the Bangladesh Nationalist Party’s (BNP) divisional rally slated for November 5.
Kabir Hossain, inspector of river security and traffic management department of Bangladesh Inland Water Transport Authority (BIWTA), said local people carried out an attack on a launch named ‘Awlad’ and the launch owners enforced the strike protesting the incident.
The launch and speedboat services will remain halted till November 5, he said.
However, the launch services on Mehendiganj and Maju Chowdhuryrhaat routes remained undisrupted, he said.
No launches on Barishal-Bhola route have left Barishal River Port and DC ghat since morning.
However, the launch and speedboat owners did not disclose any reason behind the strike.
Saiful Mridha, a launch passenger said “I have come to the launch ghat to go to Bhola in the morning but I did not find any launche and speedboat operating since morning.”
The UNB correspondent found a number of passengers waiting at Bheduria ghat in Bhola for speedboat.
Earlier, three-wheeler drivers in Barishal called a strike on November 4 and 5 demanding the authorities concerned allow three-wheelers to operate on the highway.
The strike has coincided with the upcoming rally of the BNP while bus owners in the district have announced a similar strike on the same dates.
The rally in Barishal will be the 5th one by the BNP at the divisional level as four others were held in Chattogram, Mymensingh, Khulna, and Rangpur.
Dhaka's air 'unhealthy' this morning
Dhaka's air quality continued to be in the 'unhealthy' zone on Thursday.
With an air quality index (AQI) score of 163 at 8:40 am, the metropolis ranked fifth in the list of world cities with the worst air quality.
An AQI between 101 and 200 is considered 'unhealthy', particularly for sensitive groups.
India’s Delhi, Pakistan’s Lahore and the United Arab Emirates’ Dubai occupied the first three spots in the list, with AQI scores of 633, 272 and 181, respectively.
An AQI between 201 and 300 is said to be 'poor', while a reading of 301 to 400 is considered 'hazardous', posing serious health risks to residents.
In Bangladesh, the AQI is based on five criteria pollutants -- Particulate Matter (PM10 and PM2.5), NO2, CO, SO2 and Ozone.
Dhaka has long been grappling with air pollution issues. Its air quality usually turns unhealthy in winter and improves during the monsoon.
Air pollution consistently ranks among the top risk factors for death and disability worldwide. Breathing polluted air has long been recognised as increasing a person’s chances of developing a heart disease, chronic respiratory diseases, lung infections and cancer, according to several studies.
Also read: Dhaka's air quality is still 'unhealthy'
As per the World Health Organization (WHO), air pollution kills an estimated seven million people worldwide every year, largely as a result of increased mortality from stroke, heart disease, chronic obstructive pulmonary disease, lung cancer and acute respiratory infections.
Jail Killing Day: PM Hasina pays homage to Bangabandhu, four national leaders
Prime Minister Sheikh Hasina on Thursday paid tributes to Father of the Nation Bangabandhu Sheikh Mujibur Rahman and four national leaders marking the Jail Killing Day.
The day is observed to remember national leaders Syed Nazrul Islam, Tajuddin Ahmed, Captain M Mansur Ali and AHM Quamruzzaman who were assassinated inside Dhaka Central Jail on November 3 in 1975. They played a crucial role in the 1971 War of Liberation of Bangladesh.
The massacre happened barely three months after anti-liberation elements assassinated Bangabandhu and most of his family members on August 15, 1975 at his 32 Dhanmandi residence.
In observance of the day the premier placed wreaths at the portrait of Bangabandhu in front of Bangabandhu Memorial Museum at 32 Dhanmondi here.
Also read: Jail Killing Day to be observed Wednesday
Global Covid cases cross 636 million
The overall number of global Covid-19 cases has now crossed 636 million.
According to the latest global data, the total case count mounted to 636,271,059 while the death toll from the virus reached 6,597,379 on Thursday morning.
The US has recorded 99,495,932 cases so far, while 1,096,700 people have died from the virus in the country, both highest counts around the world.
India's daily COVID-19 caseload on Wednesday increased to 1,190, officials said.
According to federal health ministry data released on Wednesday morning, 1,190 new cases of COVID-19 were reported during the past 24 hours, taking the total tally to 44,655,828 in the country.
With the reporting of fresh cases, India's active caseload currently stands at 16,243.
The country also logged 1,375 related deaths during the past 24 hours, pushing the overall death toll to 530,452 since the beginning of the pandemic, the ministry said.
Covid in Bangladesh
Bangladesh reported zero Covid-linked death and 183 cases in the 24 hours till Wednesday morning.
The country’s total fatalities remained unchanged at 29,424 as no deaths were reported during the period.
With the new infections, the caseload rose to 2,035,517, according to the Directorate General of Health Services (DGHS).
The daily case test positivity rate dropped to 4.81 per cent from Tuesday’s 5.01 per cent as 3,802 samples were tested.
The mortality rate remained unchanged at 1.45 per cent. The recovery rate rose to 97.34 per cent.
In September, the country reported 40 Covid-linked deaths and 13,251 cases.
Bangladesh registered its highest daily caseload of 16,230 on July 28 last year and its highest number of fatalities of 264 on August 10 the same year.
CSOs demand investigations into irregularities in dredger pilotage, repair
Civil society organisations (CSOs) on Wednesday demanded transparency and accountability in the pilotage and repair of dredgers used in river excavation and regular silt removal.
They also demanded the formation of an independent probe committee to report on the irregularities and corruption in the sector in the last three years to stop the misuse and wastage of public funds.
Twenty-three representatives of different non-government organisations came up with the demand in a joint statement.
According to the statement, the Bangladesh Inland Water Transport Authority (BIWTA) dredges rivers and regularly removes sediments from waterways to maintain navigable waterways. For this, the BIWTA has the required number of vessels, including 45 dredgers. There are separate dredger bases under BIWTA's dredging department to maintain, operate and repair these.
The CSO representatives said there are allegations of widespread financial irregularities and corruption in the management and repair of dredgers and auxiliary vessels.
They demanded the formation of an independent investigation committee of experts from the Bangladesh University of Engineering and Technology (BUET) and the Bangladesh Marine Academy to investigate irregularities and corruption.
Also, to ensure transparency and accountability, the CSO representatives demanded the disclosure of sector-wise expenditures to the media and the public online every month.
Read more: NCPSRR wants transparency in river dredging, silt removal
The signatories of the statement are Consumer Association of Bangladesh (CAB) Vice-President SM Nazar Hossain, Freedom Fighter Nurur Rahman Salim, Nagorik Udyog Chief Executive Zakir Hossain, Udichi Shilpa Goshthi General Secretary Amit Ranjan Dey, Green Club of Bangladesh Executive President Mohammad Shahid Mia, former general secretary of Dhaka Reporters Unity Raju Ahmed, National Committee to Protect Shipping, Roads and Railways General Secretary Ashis Kumar Dey, and marine engineer Abdul Hamid.
Coordinator of Sundarban and Upokul Surokkha Andolon Nikhil Chandra Bhadra, Vice-President of Dhaka Sangbadik Union Manik Lal Ghosh, Executive Director of Poverty Immunization Assistance Center for Everywhere Ifma Hussain, Member Secretary of Unyanan Dhara Trust Aminur Rasul Babul, President of Alokita Garments Sramik Federation Bappidev Borman, Executive Director of Dwip Unnoyan Sangstha Rafiqul Alam, Executive Director of Media Forum for Human Rights and Environmental Development Rafiqul Islam Sabuj also signed the statement.
Bangladesh Hawkers Union General Secretary Shekender Hayat, Writer Rajan Bhattacharya, Central Coordinator of Janalok Rafiqul Islam Sujan, Convener of Sachetan Sangstha Shakila Parveen, President of Committee to Protect River and Coast Kamruzzaman Nashim, Joint Secretary of Dhaka North City Citizen Forum Mostafa Kamal Akand, President of Old Dhaka Nagorik Udyog Nazim Uddin and Convenor of Mukti Shikha Jihad Arif are the other signatories.
Also read: Dredger capsized during Sitrang: Bodies of 8 workers recovered
"Loss and damage has become the biggest risk to global prosperity in the present age"
Climate change impacts generate loss and damage, globally creating crises for society, human health and development, says a new report released on Wednesday.
Disclosing comprehensive new data on the impact of climate change, the report also highlighted the asymmetric consequences for society which deepen global inequalities with poorer and more vulnerable nations the hardest hit.
The flagship report titled “Climate Vulnerability Monitor, 3rd edition: A Planet on Fire”, commissioned by the Climate Vulnerable Forum (CVF) and the Vulnerable Twenty (V20) Group of Ministers of Finance of the CVF presented the stark proof.
Ban Ki-moon, Chairman of the Board of Global Center on Adaptation and 8th UN secretary-general said with this third edition “CVM” we see clearly just how much humanity finds itself at the crossroads.
"Sadly, we have become a “Planet on Fire”, as the report’s title highlights. If we do not act now, by the end of the century, millions of lives would be lost every single year because of scorching heat," he said.
Read more: Bangladesh a key player in fight against climate change, says British envoy
Prof. Dr. Patrick V. Verkooijen, CEO of Global Center on Adaptation said this report reaffirms that the impact of climate change is asymmetric, particularly today, particularly with respect to health, jobs, food and development for poor and vulnerable communities in developing countries.
"The shocking finding of this global assessment is that some of the world’s richest and most powerful economies will also see their economic growth compromised throughout the 21st century, not just lowering incomes but also increasing inflation and interest rates. It is now crystal clear that every economy, every government, and every community must take action to analyse, monitor and respond to these risks.”
Prof. Dr. Saleemul Huq, Chair of the CVF Expert Advisory Group said the Climate Vulnerability Monitor provides them with the anatomy of the loss and damage the world now lives with because of decades of insufficient climate inaction by rich, powerful and responsible countries.
The detailed impact data and evidence presented by the CVM3 provides sobering reading on just how bad the situation already is, and how much worse it will become with fast rising global health risks, extreme heat events, and economic shocks, to name a few, he said.
"Loss and damage has become the biggest risk to global prosperity in the present age. The international community must act and support those worst affected and least responsible with funding and solutions. COP27 must make good on this agenda," Huq added.
The CVM3’s full online data set with global coverage at national level portal will be released via a dedicated portal on 10 November 2022 at UNFCCC COP27 in Sharm El-Sheikh, Egypt.
The third edition of the Climate Vulnerability Monitor (CVM3), a research program into the impact of climate change publicly released today, is the product of a multi-year research program involving a multi-organization science consortium led by the Global Center on Adaptation, Climate Analytics, the Lancet Countdown and finres, as well as 14 regional partner organizations.
The Monitor consolidates the latest research from the scientific literature on the attribution of climate change in 32 distinct indicators of socio-economic and environmental change and impact phenomena.
Read more: UN, ADB to support Bangladesh's fight against climate change
The Monitor projects and compares how, for a wide range of countries, these impacts evolve throughout the 21st century under a climate and socio-economic scenario that limits warming to 1.5°C, versus a below 2°C scenario, and a high emissions scenario without climate action to reduce emissions or mobilize additional adaptation efforts.
The CVM3 findings illustrate the significant extent to which limiting warming to 1.5ºC could contain otherwise enormous losses and damage for the world this century.
The CVM3 and its scenarios and modeling are informed by the Intergovernmental Panel on Climate Change’s (IPCC) latest Sixth Assessment Report.
The 32 individual climate impact indicators for the time periods of 2030, 2050 and 2090, are as follows:
19 indicators of the impact of climate change in biophysical terms including temperature changes, drought, precipitation and runoff/discharge, windspeed, soil moisture and crop yields.
10 indicators of the impact of climate change on human health, including through infectious disease and exposure to risks like heat, wildfires and food insecurity.
3 indicators of the economic impact of climate change on GDP per capita growth, inflation and interest rates.
Ken Ofori-Atta, Ghana Minister for Finance and Economic Planning and V20 chairman said climate-fueled risks have driven up the cost of capital and debt to unsustainable levels, especially across climate vulnerable economies, worsening already horrific financial protection gaps.
"Such measures can lower the impact of climate change, make vulnerable country economies more resilient, safeguard sustainable development, and protect the lives and livelihoods of poor and vulnerable people.”
Key findings of the CVM3 report include that:
Annual global heat deaths among vulnerable groups could reach 3.35 million by end of century if insufficient climate action is taken: 91% of the increase in heat deaths could be avoided if global warming is limited to 1.5ºC
As much as over 10% of economic growth lost every single year in the long-term for key world regions: Africa, Asia, Europe
Fast-growing cumulative economic losses are already lowering incomes worldwide and raising inflation and interest rates across all regions in a negative impact that would more than double if warming exceeded 1.5ºC and reached 2ºC
20-year extreme drought events will increase 4-8 fold during the decade ahead (at 1.5°C) and 8-12 times under a below 2.0°C scenario
Extreme wildfire risk to increase by 8.5% in the coming decade (at 1.5ºC) and to triple by end-of-century under a no climate action scenario
Decreases in staple crop yields could reach 30-40% by end of century, but could be reduced to 5-10% if global warming is limited to 1.5ºC
Henry Kokofu, Executive Director of the Environmental Protection Agency and Special Envoy of the CVF Presidency of Ghana said the vulnerable nations have been working all year towards a decisive outcome from COP27 on loss and damage.
"With this landmark CVM3 report, we are reminded of the scale and breadth of the climate calamities being visited upon poorer and vulnerable nations that lack responsibility for the climate crisis. I hope all delegations to COP27 will study the findings of the CVM3 and that the rich, powerful and responsible nations will be convinced to extend necessary support for addressing the stark injustice of loss and damage.”
Jail Killing Day: Bangladesh to remember, mourn four national leaders Thursday
Several events will be held across Bangladesh Thursday to commemorate Jail Killing Day, the day the country was robbed of its top national leaders.
On November 3, 1975, four national leaders and heroes of the country's Liberation War, Syed Nazrul Islam, Tajuddin Ahmad, Captain M Mansur Ali and AHM Quamruzzaman were murdered while in state custody inside Dhaka Central Jail.
At that time, the country was seeing sweeping political changes following the brutal assassination of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and most of his family on August 15, 1975.
Read more: AL to observe Jail Killing Day Wednesday
The four leaders played a key role in leading the Mujibnagar government, which led the Liberation War effort in 1971 with Nazrul Islam as the acting president, Tajuddin as the prime minister, Mansur Ali as the finance minister and Qamruzzaman as the home, relief and rehabilitation minister.
Different political parties, including the ruling Awami League, will observe Jail Killing Day, a dark episode in the country's history.
The Awami League and its affiliated organisations will fly the national flag and the party flag at half-mast. They will also wear black badges of mourning.
The Awami League leaders and activists will go to the Banani graveyard to pay respects to Nazrul Islam, Tajuddin and Mansur Ali, who are buried at the site. Tribute will be paid at the grave of Quamruzzaman in Rajshahi as well.
Also, the Centre for Tajuddin Ahmad Research and Activism will organise a cultural programme to mark the day.
Meanwhile, President Abdul Hamid and Prime Minister Sheikh Hasina paid tributes to the four national leaders in separate messages.
The president said: "The aim of the killers was to erase the spirit of the Liberation War from the minds of the young generation apart from giving rise to an undemocratic autocratic rule which failed."
Read more: Aug 15, jail killings prove conspiracy against independence, people: PM
"The nation will always remember the contributions of the four national leaders with due respect."
Prime Minister Sheikh Hasina said: "The killing of the four national leaders was the continuation of the assassination of the Father of the Nation and most of his family. Through it, the defeated forces and anti-state quarters made an evil attempt to destroy the Liberation War spirit and render the Bengali national leaderless by erasing the name of the Awami League."