DCCI budget proposals handed over to NBR
Friday, 17 April 2009
FE Report
Dhaka Chamber of Commerce and Industry (DCCI) Thursday handed over its recommendations for the proposed national budget of the fiscal year 2009-10 to the National Board of Revenue (NBR).
DCCI recommended giving opportunity to invest undisclosed income in the stock market and industrial enterprises without any penalty.
The chamber body also stressed upon tax rebate for the agro-based industries for the next five years, expanding of tax-net, increasing national revenue by eradicating all irregularities, ensuring business-friendly administration and environment, reducing cost of doing business, discouraging import of luxurious and finished goods and creating new sectors of employment.
DCCI handed over its recommendations at a meeting with the NBR officials in the chamber building in the city led by its newly-appointed Chairman Dr Nasir Uddin Ahmed.
At the meeting, DCCI President Zafar Osman said that overseas market is shrinking as a result of global downturn.
"Remittances are decreasing, resulting in spiraling unemployment in the country."
Taking account of the present global economic meltdown and its possible impact on domestic businesses, employment and foreign investment, DCCI President stressed on the diversification of export market, development of small and medium enterprises promotion of agro-based industries, establishment of import-substitute industries and public-private partnership, reduction of administrative expenditure and enhancement of government expenditure in productive sectors.
He praised the effort undertaken by the NBR to identify false tax identification number (TIN) holders and bring them under the tax-net.
Dhaka Chamber of Commerce and Industry (DCCI) Thursday handed over its recommendations for the proposed national budget of the fiscal year 2009-10 to the National Board of Revenue (NBR).
DCCI recommended giving opportunity to invest undisclosed income in the stock market and industrial enterprises without any penalty.
The chamber body also stressed upon tax rebate for the agro-based industries for the next five years, expanding of tax-net, increasing national revenue by eradicating all irregularities, ensuring business-friendly administration and environment, reducing cost of doing business, discouraging import of luxurious and finished goods and creating new sectors of employment.
DCCI handed over its recommendations at a meeting with the NBR officials in the chamber building in the city led by its newly-appointed Chairman Dr Nasir Uddin Ahmed.
At the meeting, DCCI President Zafar Osman said that overseas market is shrinking as a result of global downturn.
"Remittances are decreasing, resulting in spiraling unemployment in the country."
Taking account of the present global economic meltdown and its possible impact on domestic businesses, employment and foreign investment, DCCI President stressed on the diversification of export market, development of small and medium enterprises promotion of agro-based industries, establishment of import-substitute industries and public-private partnership, reduction of administrative expenditure and enhancement of government expenditure in productive sectors.
He praised the effort undertaken by the NBR to identify false tax identification number (TIN) holders and bring them under the tax-net.