Staff Reporter :
The tax payment procedure needs to be easier in order to revive the post-pandemic economy of the country and to widen the revenue collection, said Abul Kasem Khan, Chairperson of Business Initiative Leading Development (BUILD).
He placed demand while speaking at a pre-budget discussion with National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem on Tuesday at the conference room of the state coffer in the capital.
In the meeting, the BUILD chairperson placed some effective recommendations in a bid to facilitating the revenue collection procedure of the government focusing on widening tax net, corporate tax reduction, minimizing the gap of supply side and demand side and simplifying the tax payment procedures.
Emphasizing of increasing the Tax GDP ratio, he said that the existing ratio of direct and indirect tax in Bangladesh is around 35:65 which should be reversed to uphold the interest of the consumers and the productive sectors.
Priorities for this year Budget need to be given to increase the tax-net, to reduce the tax-rates, simplify tax payment procedures to encourage taxpayers.
BUILD urges to reduce costs of administration and compliance, ensure procedural fairness, avoid discrepancies and discrimination, ensure transparency and build confidence in the taxpayer-citizen-client.
It also demands the increased reliance on Information Technology-electronic payment facilities. BUILD asked for considering the taxpayer as customer and facilitating compliance.
