DCCI wants more time to submit tax returns

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FE Report brLeaders of the Dhaka Chamber of Commerce and Industry (DCCI) Tuesday proposed to the National Board of Revenue (NBR) to allow 45 days for submission of tax returns instead of existing 30 days.brThe 30-day time limit for submission of income tax returns expires on September 30.brI accept your proposal and will consider increasing the time limit. You can be allowed additional time, revenue board chief Md Abdul Mazid said at the function in the city arranged to unveil the 'Tax Guide 2008-09' compiled by the Research Cell of the DCCI.brThe newly published Tax Guide '2008-09' will help the businessmen to be informed about income tax, import duty and VAT (Value Added Tax), the DCCI president Hossain Khaled said.brHe said We think the introduction of self-assessment system, empowering the executing right of Tax-ombudsman, downsizing discretionary powers of tax officials, expansion of tax net and reducing the lowest income tax to Tk 1000 from existing Tk 2000 can help boost revenue collection. brDespite a number of the government's steps taken to ease the payment of tax, the DCCI president said there still remains some hurdles on issues relating to bonded warehouse.br