Update: 3 April, 2018 08:47 AM
NBR seeks business community's cooperation for tax collection

NBR seeks business community's cooperation for tax collection

Chairman of National Board of Revenue (NBR) Md Mosharraf Hossain Bhuiyan has sought cooperation from the business community for collection of tax from potential areas and individuals still remaining out of tax net.

"This time the budget will be the largest one because it the last one of the government's current tenure. We've to increase revenue earnings to meet the development and non-development expenditures. So, we need your support to realize tax from individuals and the areas still remaining out of tax net," he told the leaders of Foreign Investors' Chamber of Commerce and Industry (FICCI) during pre-budget talks here yesterday. 

He said there is no alternative to increase revenue earnings but the NBR does not want to create pressure on anyone or establishment to realize tax, he said, adding that the NBR needs your suggestions as it wants to realize tax in a planned way. 

FICCI president Shehzad Munim said the corporate rate in Bangladesh is high compared to that of neighbouring countries and proposed to cut corporate tax at the rate of 5 percent in all areas for industrialization and foreign investment. 

He also proposed to make loan provisioning tax free. Munim said implementation of the VAT law 2012 has been delayed for two years but some part of this law such as progressive tax rate can be implemented right now. 

About tax on loan provisioning, the NBR chairman said that it is not possible to do because there is no scope to waive this tax. 

On progressive tax rate, he said it is a good idea and the NBR will consider it. 

Hossain said there is allegation against multinational companies that they deduct tax from people but do not deposit the money at public exchequer. We do not hear such allegation any more . . . people's money must be deposited to public exchequer," he added.



সম্পাদক : ইমদাদুল হক মিলন,
নির্বাহী সম্পাদক : মোস্তফা কামাল,
ইস্ট ওয়েস্ট মিডিয়া গ্রুপ লিমিটেডের পক্ষে ময়নাল হোসেন চৌধুরী কর্তৃক প্লট-৩৭১/এ, ব্লক-ডি, বসুন্ধরা, বারিধারা থেকে প্রকাশিত এবং প্লট-সি/৫২, ব্লক-কে, বসুন্ধরা, খিলক্ষেত, বাড্ডা, ঢাকা-১২২৯ থেকে মুদ্রিত।
বার্তা ও সম্পাদকীয় বিভাগ : বসুন্ধরা আবাসিক এলাকা, প্লট-৩৭১/এ, ব্লক-ডি, বারিধারা, ঢাকা-১২২৯। পিএবিএক্স : ০২৮৪০২৩৭২-৭৫, ফ্যাক্স : ৮৪০২৩৬৮-৯, বিজ্ঞাপন ফোন : ৮১৫৮০১২, ৮৪০২০৪৮, বিজ্ঞাপন ফ্যাক্স : ৮১৫৮৮৬২, ৮৪০২০৪৭। E-mail : [email protected]