Govt to minimise VAT net, but to expand income tax net: Faruk
Monday, 3 August 2009
Commerce Minister Lt Col (retd) Faruk Khan on Sunday said the government would minimise the net of VAT (value added tax) gradually, but the income tax net would be expanded, reports UNB.
"It's not possible to waive all types of taxes together as the government meets its requirement of funds through people's taxes to run different government projects," he said.
He made the remarks while talking to a delegation of Pure Water Manufacturing Association (PWMA) at his office Sunday. Convener of the association Md Asgar Hossain Alim led the 15-member delegation.
During the discussion, Faruk Khan urged the businessmen to help the government by identifying illegal traders.
"It's a business-friendly government. Do business honestly and uphold the image of businessmen by serving the people," he said.
The Commerce Minister said that if necessary, go abroad and gather experience and knowledge to enhance productivity. "Play responsible role and your demands will be gradually implemented."
"It's not possible to waive all types of taxes together as the government meets its requirement of funds through people's taxes to run different government projects," he said.
He made the remarks while talking to a delegation of Pure Water Manufacturing Association (PWMA) at his office Sunday. Convener of the association Md Asgar Hossain Alim led the 15-member delegation.
During the discussion, Faruk Khan urged the businessmen to help the government by identifying illegal traders.
"It's a business-friendly government. Do business honestly and uphold the image of businessmen by serving the people," he said.
The Commerce Minister said that if necessary, go abroad and gather experience and knowledge to enhance productivity. "Play responsible role and your demands will be gradually implemented."