FBCCI urges tax reforms

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has called for reforms in the tax regime to materialise the country's development goal -- 'Smart Bangladesh', reports BSS.
The country's apex trade body has also sought business-friendly tax system and simplification of tax collection process for increasing tax-GDP ratio, diversification of exports, and foreign investment.
FBCCI President Mahbubul Alam made the suggestions at a workshop titled 'Building a Resilient Economy for Vision 2041: Key Challenges and Way Forward' held at the FBCCI office in the city on Tuesday, said a press release.
In his speech, Mahbubul Alam observed that one of the tasks and challenges in building a 'Smart Bangladesh' is to improve the private investment environment.
"Ensuring and facilitating long-term loans for this investment is very important," he added.
The FBCCI chief said the post-Covid crisis situation, the current world geopolitical context, and the economic crisis caused by Russia-Ukraine and the war in the Middle East made some negative impacts on the overall economic activities of Bangladesh.
"However, traders are facing the biggest loss. In such a situation, it has become necessary to take initiatives with coordinated efforts of the public and private sectors to organise the economic and commercial sectors in order to achieve a resilient economy according to the vision 2041," he added.
FBCCI Senior Vice President Md Amin Helaly and Vice President Md Munir Hossain, among others, were present on the occasion.