Staff Reporter :
The National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem on Sunday said that their responsibility to protect domestic industry with a view to expand the country’s trade.
He made the comment while speaking at a pre-budget discussion with the leaders of the Bangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA) at the conference room of the NBR in the capital.
NBR Members Md Alamgir Hossain, Syed Golam Kibria and Md Masud Sadik, among others, were present, while the BPGMEA President Md Jasim Uddin placed the budget proposals in the meeting.
“Our responsibility is only to collect revenue, but also to protect the local industry to expand the country’s trade,” said Muneem.
“Expansion of the tax net is our important task and we are working for this sincerely,” he said.
He also said that the plastic goods are important sector to increase the country’s export volume.
“We want small, medium industries to grow in every house and all of us will have to work in this regard,” he said.
He further said, “China is not only our competitor but all the countries. It is not possible to compete with them (China) by providing only tax benefits. In this case, you (entrepreneurs) will have to increase capacity.” “We will look into any inconsistencies in the tax structure in the upcoming budget,” the NBR chief added.
Terming the sector ‘potential’ for the national economy, Jashim urged the government to allow tax holiday for plastic manufacturers.
“We earnestly request you to include plastic sector in the tax holiday facility as the eighth sector considering its potential and its consumer-friendly nature,” he said.
The same facility has been provided for seven other sectors, including man-made fibre for apparel sector, car components and electronic transformers.
Jashim also sought measures to distribute the fund with the participation of all trade bodies and government agencies so that small and medium entrepreneurs also get equal benefits.
