Kazi Zahidul Hasan :
The Parliament is going to pass the proposed budget for the fiscal 2015-16 without any major changes, sources said.
They said it will be placed for the passage on Tuesday, with some changes in the taxes and customs duties proposed in the budget.
“There will be no major changes in the proposed budget. Only some minor changes would be brought before presenting to the Parliament for its passage,” a senior Finance Ministry official familiar with budget
preparation told The New Nation on Sunday.
He said that Finance Minister AMA Muhith will revise some of his earlier proposals and announce cuts in taxes, duties, and value added tax (VAT) on a number of products and items paying heed to the demands and suggestions of the business community.
Earlier on June 4, Muhith placed a Tk 3.0 trillion proposed budget in the House for the next fiscal, beginning from July 1.
Finance Minister proposed to increase the tax at source on exports from 0.3 per cent to 1.0 per cent from the next fiscal.
He also proposed to impose 1.0 per cent duty on importing capital machinery for the export-oriented industries.
“The Finance Ministry may bring some changes in such proposals considering the request from the business leaders,” said the Finance Ministry official.
He further said that the tax at source may be fixed at 0.8 per cent from the proposed 1.0 per cent while duty waiver for importing capital machinery may be restored.
“The next budget proposed to slap advance income tax on the importers to import rice, pulses, edible oil and sugar. This proposal is also expected to be withdrawn in the final budget,” he added.
Finance Minister also proposed to collect a 10 per cent VAT on private medical and engineering college in his budget speech and the rate may be reduced to 7.5 per cent.
The Finance Minister decided to make review of the above mentioned budget proposals in line with the suggestions made by the senior ministers, and Members of Parliament (MPs) during the budget discussion in Parliament
The Parliament will clear the Finance Bill for 2015 today (Monday).
