Govt eyes 20pc growth in revenue earning: Muhith
Wednesday, 27 January 2010
FE Report
Finance Minister AMA Muhith Tuesday said the government expects to raise the annual growth in revenue earning during its tenure from the existing 16 per cent.
'It is doable and necessary for the government to boost revenue earning by minimising gap between taxpayers and taxmen," he said in a programme arranged for celebrating International Customs Day-2010 in the city.
The National Board of Revenue (NBR) observed the day with the theme - customs and business - improving performance through partnership.
Commerce Minister Lt Col (retd) Faruk Khan, Economic Affairs Adviser to the Prime Minister Dr Mashiur Rahman, NBR Chairman Dr Nasir Uddin Ahmed, Customs Member Hussain Ahmed and Board Administration Member Jahan Ara Siddiqui spoke on the occasion.
Muhith underscored the need for ensuring better service to the taxpayers and reducing harassment and torture.
The finance minister said the government would concentrate more on income tax and Value Added Tax (VAT) than Customs revenue for the sake of trade liberalisation.
The government is amending the existing customs and VAT law for the next fiscal, he said adding "We will take opinions of all stakeholders before framing the revised law."
Amendment to the customs and VAT laws will take place in the next budget session while that to the income tax law will be carried out next year, he added.
Commerce Minister Faruk Khan appreciated the move to observe customs day saying that such initiatives will eliminate negative impression of people on customs officials.
He stressed the need for automated customs department and capacity building to increase skill of customs officials for raising revenue collection.
Faruk requested the customs officials to behave cautiously with the passengers at the airport as people get first impression about the country at the entry point.
Dr Mashiur Rahman said the gap between tax rates can be minimised as different variable rates of taxes for same kinds of products are creating problems.
Responding to a question on tax ombudsman's office, he said the ombudsman should gain confidence of the people to enforce its law.
"The government should review the matter on what benefit people are getting from the tax ombudsman's office," he said.
Hussain Ahmed, who chaired the session, conveyed the message of the international customs day - customs officials are playing the most valuable role. They are providing the most important public service. Their contribution really deserves recognition."
He remembered some brave customs officials who scarified their lives for revenue earning.
"We have to impart training to the customs officials so that they can perform their duties properly," he said.
Responding to a question, Nasir Uddin said: "The revenue board will scrap pre-shipment inspection (PSI) system from December 2010."
He called upon the cross section of people to give opinions of reforming the existing tax laws.
Among others, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Abdus Salam Murshedy, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Director Abdul Huq and clearing and forwarding agents association president Sheikh Md Farid spoke on the occasion.
Finance Minister AMA Muhith Tuesday said the government expects to raise the annual growth in revenue earning during its tenure from the existing 16 per cent.
'It is doable and necessary for the government to boost revenue earning by minimising gap between taxpayers and taxmen," he said in a programme arranged for celebrating International Customs Day-2010 in the city.
The National Board of Revenue (NBR) observed the day with the theme - customs and business - improving performance through partnership.
Commerce Minister Lt Col (retd) Faruk Khan, Economic Affairs Adviser to the Prime Minister Dr Mashiur Rahman, NBR Chairman Dr Nasir Uddin Ahmed, Customs Member Hussain Ahmed and Board Administration Member Jahan Ara Siddiqui spoke on the occasion.
Muhith underscored the need for ensuring better service to the taxpayers and reducing harassment and torture.
The finance minister said the government would concentrate more on income tax and Value Added Tax (VAT) than Customs revenue for the sake of trade liberalisation.
The government is amending the existing customs and VAT law for the next fiscal, he said adding "We will take opinions of all stakeholders before framing the revised law."
Amendment to the customs and VAT laws will take place in the next budget session while that to the income tax law will be carried out next year, he added.
Commerce Minister Faruk Khan appreciated the move to observe customs day saying that such initiatives will eliminate negative impression of people on customs officials.
He stressed the need for automated customs department and capacity building to increase skill of customs officials for raising revenue collection.
Faruk requested the customs officials to behave cautiously with the passengers at the airport as people get first impression about the country at the entry point.
Dr Mashiur Rahman said the gap between tax rates can be minimised as different variable rates of taxes for same kinds of products are creating problems.
Responding to a question on tax ombudsman's office, he said the ombudsman should gain confidence of the people to enforce its law.
"The government should review the matter on what benefit people are getting from the tax ombudsman's office," he said.
Hussain Ahmed, who chaired the session, conveyed the message of the international customs day - customs officials are playing the most valuable role. They are providing the most important public service. Their contribution really deserves recognition."
He remembered some brave customs officials who scarified their lives for revenue earning.
"We have to impart training to the customs officials so that they can perform their duties properly," he said.
Responding to a question, Nasir Uddin said: "The revenue board will scrap pre-shipment inspection (PSI) system from December 2010."
He called upon the cross section of people to give opinions of reforming the existing tax laws.
Among others, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Abdus Salam Murshedy, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Director Abdul Huq and clearing and forwarding agents association president Sheikh Md Farid spoke on the occasion.