Staff Reporter :
Leaders of Dhaka Chamber of Commerce and Industry (DCCI) has urged the National Board of Revenue (NBR) to provide them package VAT along with 10 percentage tax increase in every year till 2021 for the sake of businesses and country’s overall development.
A DCCI delegation-led by its President Hossain Khaled made the plea at a meeting with the officials of National Board of Revenue (NBR), held at NBR headquarters in the capital on Sunday. NBR Chairman Nojibur Rahman presided over the meeting.
DCCI prsident has proposed for raising the ceiling of tax-free income to Tk 3.5 lakh from the existing Tk 2.50 lakh in the national budget for the fiscal year 2016-2017.
The trade body came up with the proposal considering the ‘growing living cost’ and inflation.
The DCCI also proposed raising the tax exemption threshold for women and senior citizens, aged over 65 years, to Tk 4 lakh from the existing Tk 3 lakh.
On the other hand, the trade body proposed lifting the tax exemption threshold for the physically-challenged people to Tk 4.25 lakh from Tk 3.75 lakh.
DCCI president Hossain Khaled placed the 18-ponit proposal, including income tax proposals, to the National Board of Revenue (NBR).
DCCI President Hossain Khaled also urged to give tax exemption facility to Chambers/trade bodies as these organizations spend most of their income in doing research, policy advocacy, publication and activities to promote trade and commerce etc.
He also urged the government to prevent the source of black money. He requested NBR to issue TAX Card to all tax payers so that they can be proud of being tax payer.
DCCI also proposed to take measures for holding income tax fair at the upazila level alongside district level across the country to reduce tax burden on the businessmen.
In response, the NBR chairman assured the delegation of organising the income tax fair at the Upazila level, apart from the district level.
He, however, called upon the business community to do export and import business honestly, abiding the existing rules and regulations. He also stressed on expediting the tax net instead of increasing taxes. Showing logic he said that Bangladesh is a land of 160 million populations whereas we have only 1.8 million tax payers. We have to increase the tax net to increase revenue collection.
On the proposal Chairman of NBR Md. Nojibur Rahman said that DCCI’s recommendations are pertinent enough. He said that government is committed to formulate a business and investment friendly inclusive budget for the next fiscal year.
He also said that the next budget will have a clear indication to graduate Bangladesh into a middle income country.
DCCI’s Vice President K. Atique-E- Rabbani FCA, Directors Moahammad Shajahan Khan, AKD Khair Mohammad Khan, Muktar Hossain Chowdhury, Md Alauddin Malik, Riyad Hosaain, Selim Akhtar Khan and NBR members, among others, were present during the meeting.
Leaders of Dhaka Chamber of Commerce and Industry (DCCI) has urged the National Board of Revenue (NBR) to provide them package VAT along with 10 percentage tax increase in every year till 2021 for the sake of businesses and country’s overall development.
A DCCI delegation-led by its President Hossain Khaled made the plea at a meeting with the officials of National Board of Revenue (NBR), held at NBR headquarters in the capital on Sunday. NBR Chairman Nojibur Rahman presided over the meeting.
DCCI prsident has proposed for raising the ceiling of tax-free income to Tk 3.5 lakh from the existing Tk 2.50 lakh in the national budget for the fiscal year 2016-2017.
The trade body came up with the proposal considering the ‘growing living cost’ and inflation.
The DCCI also proposed raising the tax exemption threshold for women and senior citizens, aged over 65 years, to Tk 4 lakh from the existing Tk 3 lakh.
On the other hand, the trade body proposed lifting the tax exemption threshold for the physically-challenged people to Tk 4.25 lakh from Tk 3.75 lakh.
DCCI president Hossain Khaled placed the 18-ponit proposal, including income tax proposals, to the National Board of Revenue (NBR).
DCCI President Hossain Khaled also urged to give tax exemption facility to Chambers/trade bodies as these organizations spend most of their income in doing research, policy advocacy, publication and activities to promote trade and commerce etc.
He also urged the government to prevent the source of black money. He requested NBR to issue TAX Card to all tax payers so that they can be proud of being tax payer.
DCCI also proposed to take measures for holding income tax fair at the upazila level alongside district level across the country to reduce tax burden on the businessmen.
In response, the NBR chairman assured the delegation of organising the income tax fair at the Upazila level, apart from the district level.
He, however, called upon the business community to do export and import business honestly, abiding the existing rules and regulations. He also stressed on expediting the tax net instead of increasing taxes. Showing logic he said that Bangladesh is a land of 160 million populations whereas we have only 1.8 million tax payers. We have to increase the tax net to increase revenue collection.
On the proposal Chairman of NBR Md. Nojibur Rahman said that DCCI’s recommendations are pertinent enough. He said that government is committed to formulate a business and investment friendly inclusive budget for the next fiscal year.
He also said that the next budget will have a clear indication to graduate Bangladesh into a middle income country.
DCCI’s Vice President K. Atique-E- Rabbani FCA, Directors Moahammad Shajahan Khan, AKD Khair Mohammad Khan, Muktar Hossain Chowdhury, Md Alauddin Malik, Riyad Hosaain, Selim Akhtar Khan and NBR members, among others, were present during the meeting.
