FBCCI seeks views of trade bodies on next budget

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FE Report The country's apex chamber body has sought budget proposals for 2013-14 fiscal from all the chambers and trade associations by February 20 next to formulate proposals for the government on the fiscal measures that "will expedite the growth of industries". The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Tuesday sent letters to the trade associations seeking the proposals. The letter has requested the leaders of chambers and business associations to submit their respective proposals on import revenue, pre-shipment inspection (PSI) system, Value Added Tax (VAT), income tax and other taxes with their justifications. The FBCCI has attached a chart to the letter which includes the names of the products, the overall present situation, recommendations and justifications of the proposals. On proposals for VAT and income tax, the chamber body has requested the business associations to explain the existing situation and recommendations with justification. Apart from the tax-related proposals, the FBCCI also sought recommendations on macro-economy of the country. Mir Shahabuddin Mohammad, secretary general of the FBCCI, sent the letters to business associations and important government agencies including Dhaka Stock Exchange (DSE), Chittagong Stock Exchange (CSE) and the Institute of Chartered Accountants of Bangladesh (ICAB).