FBCCI wants NBR to expand tax net

FE Report
Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) president Kazi Akram Uddin Ahmad Monday urged the National Board of Revenue (NBR) to be sympathetic to the businesses for collecting value added tax (VAT) and supplementary duty.
He also suggested that the revenue board expand its tax net to village level aiming to reduce pressure on the urban taxpayers.
Mr Akram made the suggestion while addressing a sensitisation seminar on VAT and Supplementary Duty Act 2012 at PSC convention centre in the city's Mirpur area.
Customs, Excise and VAT Commissonerate, Dhaka west organised the event for the businesses. Customs, Excise and VAT Commissionerate Dhaka west commissioner Saiful Islam chaired the seminar.
The FBCCI president said: "You (businesspeople) pay a portion of your incomes to the national exchequer as you want wellbeing of the country."
"We wanted the ceiling for non-payment of tax to be Tk 3.6 million and requested NBR not to fix VAT rate at 15 per cent. I have seen 10 to 12 per cent VAT in Vietnam and the UK," he said.
Referring to the date for enactment of the law, he said there were only 21,000 VAT payers on that day which has now reached 0.7 million.
Besides, NBR's revenue collection increased to Tk 450 billion from Tk 17 billion, he mentioned, adding that NBR has set a target of collecting Tk 560 billion as VA T this year.
He said it is true that any new thing can cause fear. But NBR should be sympathetic towards the business community, he added.
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