May 30, 2016

Page 1

SECOND EDITION

MONDAY, MAY 30, 2016

|

Jyoishtha 16, 1423, Shaban 22, 1437

|

Regd No DA 6238, Vol 4, No 37

|

www.dhakatribune.com | 32 pages | Price: Tk10

Is the new tax law discriminatory? Businesses shut today in protest

BUDGET FY2017

n Tribune Desk

Samiul Basher Anik n Syed and Jebun Nesa Alo With the government's 2012 law introducing a 15% flat consumption tax on a broad base of consumer goods about to come into effect in 2016-17, many are concerned that the brunt of tax burdens will fall on the shoulders of lower income groups. The government has set a significantly higher revenue earning target from VAT in the upcoming 2016-17 fiscal year, making it the largest segment of its internal revenue income, in contrast to its previous budgets where income tax was the biggest segment. In FY17, the government wants  PAGE 2 COLUMN 1

700 migrants feared drowned in the Mediterranean n Tribune Desk Over 700 migrants are feared dead in three Mediterranean Sea shipwrecks south of Italy in the last few days as they tried desperately to reach Europe in unseaworthy smuggling boats, the UN refugee agency said Sunday. The shipwrecks over three days appear to account for the largest loss of life reported in the Mediterranean since April 2015, when a single ship sank with an estimated 800 people trapped inside, reports the Associated Press. Refugees who saw that boat sink said it was carrying about 670 people, didn’t have an engine and was being towed by another packed smuggling boat before it capsized. About 25 people from the capsized boat managed to reach the first boat and survive, 79 others were rescued by international patrol boats and 15 bodies were recovered. Italian police said survivors identified the commander of the boat with the working engine as a 28-year-old Sudanese man, who has been arrested. In a third shipwreck on Friday,  PAGE 2 COLUMN 1

Lower income groups might face a much larger tax burden as the new VAT law is expected to raise prices of everyday commodities MEHEDI HASAN

Businesses will stay shut today across Bangladesh in protest of the government’s decision to move forward with replacing the existing package VAT provision with a flat 15% tax. Abu Motaleb, the general secretary of Baboshayee Oikko Forum, a platform of various business associations, announced the strike at a press conference on Saturday. Business leaders have also sought Prime Minister Sheikh Hasina’s intervention in the matter. “If we do not get any positive response from the government on our seven-point demand, we will form human chains on May 30 [today], seeking intervention from  PAGE 2 COLUMN 5


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
May 30, 2016 by DhakaTribune - Issuu