FBCCI proposals surprise NBR

National Board of Revenue (NBR) chairman Golam Hossain seemed taken aback confronted by 200 proposals from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) for reducing tax in the upcoming budget for fiscal 2014-15.
 “You (FBCCI) have given a huge number of proposals to the NBR and suggested reducing tax in the next budget. But, with tax reduced in so many sectors, how the 22 percent of additional revenue targeted for the next fiscal will be possible,” he told a pre-budget discussion at a city hotel on Thursday.
The NBR and the FBCCI jointly organised the 35th Consultative Meeting of NBR.
Golam Hossain said the target of revenue collection was Tk 125,000 crore in the current fiscal while it will be Tk 149,000 crore in the upcoming fiscal.
The NBR chairman said the government has already passed the Value Added Tax Act, 2011 and the law is set to be enforced within the next 13 months, according to UNB.