POWER HUNGRY | Second in a Seattle Times and ProPublica series about the impact of data centers in Washington. This article was produced for ProPublica’s Local Reporting Network in partnership with The Seattle Times. Times Watchdog stories dig deep to hold power accountable, right wrongs and create change. This work is made possible by The … Read more
The National Board of Revenue (NBR) granted an estimated Tk 1,25,813 crore exemption on income and corporate taxes, which is 3.56% of the country’s GDP. Tk 40,498 crore was exempted at the individual taxpayer level, while Tk 85,314 crore was incentivized at the corporation level. The NBR provided Tk 15,315 crore in corporate tax exemptions for microcredit programs and Tk 8,380 crore for the power and energy sector. Tk 11,287 crore was exempted on remittance at the individual taxpayer level. The IMF has proposed to withdraw tax incentives on remittance and other types of investments. Industry insiders oppose the withdrawal of tax incentives for the information technology industry.
Leaders of the UK’s financial technology industry are urging the British government to increase tax relief and help them raise more investment, as some executives warn a shortage of domestic investors is holding back the sector.
– US layoff announcements rose 7% in March to the highest since January 2023
– Job cut announcements increased to 90,309 in March
– Technology industry led in job cuts in the first quarter of the year
– US government was the top job cutter in March
– Companies cited cost-cutting and restructuring efforts as reasons for job eliminations