Business Desk :
National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem on Sunday said that widening the tax net is a must for easing the tax burden. He also said that ensuring compliance of the corporations is essential
for better operations of businesses and VAT collection.
The NBR Chairman said this while addressing the concluding ceremony of
the two-day workshop styled ‘VAT Compliances: Role of CMAs’ as the chief
guest hosted by the Institute of Cost and Management Accountants of
Bangladesh (ICMAB) yesterday evening at the ICMAB Ruhul Quddus Auditorium in the capital, said an ICMAB press release.
Muneem also said that the government has taken initiative to bring the
entire VAT system under automation to prevent VAT evasion and ensure greater transparency and accountability.
FBCCI president Md Jashim Uddin spoke as the special guest. ICMAB President Md Mamunur Rashid, seminar and conference committee chairman AKM Delwer Hussain, among others, spoke on the occasion. ICMAB council member and past president Abu Sayed Md Shaykhul Islam presented a theme paper of the event.
Speakers at the workshop said an effective VAT audit system based on
integrated audited accounts may be introduced where CMAs can play a vital role as a catalyst to the taxmen. A comprehensive reform of the value-added tax (VAT) regime and automation can facilitate it for both taxpayers and businesses. The FBCCI President suggested that the government should pay much more attention to businesses so that they can cooperate with the taxmen.
ICMAB President said that CMA professionals can create a great impact by putting their expertise for ensuring clarity in various economic aspects. He requested the concerned authorities to create more scope for the CMA professionals in relevant fields so that they can give their effort for the development of this country.
Mamunur emphasized on to add Cost of Goods Sold statement with company return after getting certification from Cost and Management Accountants.
