Staff Reporter :
The National Board of Revenue has started preparatory work for drafting the revenue budget for the 2017-2018 fiscal year.
Its three wings – income tax, value-added tax and customs have sought budget proposals from external stakeholders, including trade bodies, financial institutions and research organisations as well as from its field offices.
The three wings in separate letters have recently requested the stakeholders to submit their opinion and
suggestions by February 28. Trade bodies and associations have been requested to submit their proposals through the Federation of Bangladesh Chambers of Commerce and Industry, the country’s apex trade body.
The NBR wants to draft a participatory, pro-people, business friendly and revenue generation and potential budget for the coming fiscal year, they said.
After getting proposals from the trade bodies, the revenue board will start pre-budget discussions with the business leaders, they added.
“The upcoming budget process is very important because the new VAT law will be made mandatory from next fiscal’ they said adding that the next budget is also significant.”Probably, the implementation of Trade Facilitation Agreement (TFA) will be obligatory internationally from this year”.
NBR’s First Secretary of Custom Policy Faqrul Alam in a letter requested its fields’ offices for sending their specific proposals on import, customs duties, customs related rules and regulations and any change or amendment, if needed. He advised them to take opinion from the stakeholders before preparing the proposals.
The National Board of Revenue has started preparatory work for drafting the revenue budget for the 2017-2018 fiscal year.
Its three wings – income tax, value-added tax and customs have sought budget proposals from external stakeholders, including trade bodies, financial institutions and research organisations as well as from its field offices.
The three wings in separate letters have recently requested the stakeholders to submit their opinion and
suggestions by February 28. Trade bodies and associations have been requested to submit their proposals through the Federation of Bangladesh Chambers of Commerce and Industry, the country’s apex trade body.
The NBR wants to draft a participatory, pro-people, business friendly and revenue generation and potential budget for the coming fiscal year, they said.
After getting proposals from the trade bodies, the revenue board will start pre-budget discussions with the business leaders, they added.
“The upcoming budget process is very important because the new VAT law will be made mandatory from next fiscal’ they said adding that the next budget is also significant.”Probably, the implementation of Trade Facilitation Agreement (TFA) will be obligatory internationally from this year”.
NBR’s First Secretary of Custom Policy Faqrul Alam in a letter requested its fields’ offices for sending their specific proposals on import, customs duties, customs related rules and regulations and any change or amendment, if needed. He advised them to take opinion from the stakeholders before preparing the proposals.
