BSS, Dhaka :
Institute of Chartered Accountants of Bangladesh (ICAB) suggested that National Board of Revenue (NBR) open a research and development (R&D) division to collect revenue to meet the fiscal target.
“The goal of revenue collection is possible to meet if the NBR could introduce universal tax system by bringing the entire tax circle under the R&D network,” ICAB President Masih Malik Chowdhury said this on Thursday while speaking at a press conference at Jatiya Press Club.
Achieving 7 per cent GDP growth is possible through boosting investment, said Malik, but put emphasis on the development of physical infrastructures and investment friendly environment.
Suggesting fixing the minimum tax of Taka 3,000 for individual tax payer, the ICAB president said the proposal of minimum tax of Taka 4,000 in the budget would be extra pressure for the good tax payers.
Replying to a query, the former president of ICAB Mohammad Humayun Kabir said the target of bank borrowing to meet the fiscal deficit would not hamper the private sector loan as the banking sector has sufficient liquidity.
Former ICAB Presidents M Saiful Islam and Abbas Uddin Khan, and Vice President Kamrul Abedin and A F Nesaruddin, among others, were present in the press conference.
The ICAB thanked the Finance Minister for incorporating the section “Punishment for Unauthorized Employment” in the Finance Bill-2015, as the section would help bring those foreigners under tax net who are working here in tourist visa.
Institute of Chartered Accountants of Bangladesh (ICAB) suggested that National Board of Revenue (NBR) open a research and development (R&D) division to collect revenue to meet the fiscal target.
“The goal of revenue collection is possible to meet if the NBR could introduce universal tax system by bringing the entire tax circle under the R&D network,” ICAB President Masih Malik Chowdhury said this on Thursday while speaking at a press conference at Jatiya Press Club.
Achieving 7 per cent GDP growth is possible through boosting investment, said Malik, but put emphasis on the development of physical infrastructures and investment friendly environment.
Suggesting fixing the minimum tax of Taka 3,000 for individual tax payer, the ICAB president said the proposal of minimum tax of Taka 4,000 in the budget would be extra pressure for the good tax payers.
Replying to a query, the former president of ICAB Mohammad Humayun Kabir said the target of bank borrowing to meet the fiscal deficit would not hamper the private sector loan as the banking sector has sufficient liquidity.
Former ICAB Presidents M Saiful Islam and Abbas Uddin Khan, and Vice President Kamrul Abedin and A F Nesaruddin, among others, were present in the press conference.
The ICAB thanked the Finance Minister for incorporating the section “Punishment for Unauthorized Employment” in the Finance Bill-2015, as the section would help bring those foreigners under tax net who are working here in tourist visa.
