Govt working hard to mobilize internal resources: NBR chief
Thursday, 21 August 2008
The government is striving hard to mobilise resources for the development of the country.
Chairman of the National Board of Revenue (NBR) Muhammad Abdul Mazid said this while speaking at a seminar in the city Tuesday, said a press release.
The Institute of Chartered Accountants of Bangladesh (ICAB) organised the seminar titled "Analytical Study of Amendments Made in the Income Tax Ordinance 1984 by the Finance Ordinance-2008 and SROs Issued There under."
The machinery of the NBR is working round-the-clock to achieve the revenue target set by the government and the result is encouraging, the NBR boss pointed out.
Mr Mazid expressed the hope that time would come shortly when Bangladesh would use its own resources for both non-development and development activities.
To implement the budgetary measures, changes are brought about in the Finance Act. These measures broadly affect the people falling within and outside the tax network, the NBR chair mentioned.
Addressing the seminar, President of the ICAB Md Humayun Kabir said the implications of the changes in the Income Tax Ordinance 1984 and the VAT Act 1991 brought about in the Finance Act 2008 has great bearing on the tax and VAT payers.
Mr Humayun said that government had been doing really hard labour to mobilise resources from internal sources through Customs tariff, income tax and non-tax measures to finance the annual revenue and development budgets of the country.
He however said that the challenging task before the government would be to control the galloping inflation.
Although the budgetary measures do not appear to be well equipped to tame the increasing inflation yet careful and cautious implementation of the Finance Ordinance and methodical and meticulous actions by the NBR may help to cool down the inflationary trend and to achieve the goal set through the changes in the Finance Ordinance 2008, mentioned.
The Finance Ordinance 2008 is basically positive which if implemented properly will greatly assist in poverty alleviation, reduction of social inequality and income generating programmes, said Mr Kabir.
Former president of Dhaka Chamber of Commerce and Industry and American Chamber of Commerce in Bangladesh Aftabul Islam was present at the seminar as the special guest.
He said that the impact of the Finance Ordinance 2008 was far reaching and government was utilising the Finance Ordinance 2008 with positive results.
Former president of the ICAB AN Altaf Hossain Siddique presided over the seminar, while Mr MJ Abedin and Mr MA Baree presented the keynote paper.
Chairman of the National Board of Revenue (NBR) Muhammad Abdul Mazid said this while speaking at a seminar in the city Tuesday, said a press release.
The Institute of Chartered Accountants of Bangladesh (ICAB) organised the seminar titled "Analytical Study of Amendments Made in the Income Tax Ordinance 1984 by the Finance Ordinance-2008 and SROs Issued There under."
The machinery of the NBR is working round-the-clock to achieve the revenue target set by the government and the result is encouraging, the NBR boss pointed out.
Mr Mazid expressed the hope that time would come shortly when Bangladesh would use its own resources for both non-development and development activities.
To implement the budgetary measures, changes are brought about in the Finance Act. These measures broadly affect the people falling within and outside the tax network, the NBR chair mentioned.
Addressing the seminar, President of the ICAB Md Humayun Kabir said the implications of the changes in the Income Tax Ordinance 1984 and the VAT Act 1991 brought about in the Finance Act 2008 has great bearing on the tax and VAT payers.
Mr Humayun said that government had been doing really hard labour to mobilise resources from internal sources through Customs tariff, income tax and non-tax measures to finance the annual revenue and development budgets of the country.
He however said that the challenging task before the government would be to control the galloping inflation.
Although the budgetary measures do not appear to be well equipped to tame the increasing inflation yet careful and cautious implementation of the Finance Ordinance and methodical and meticulous actions by the NBR may help to cool down the inflationary trend and to achieve the goal set through the changes in the Finance Ordinance 2008, mentioned.
The Finance Ordinance 2008 is basically positive which if implemented properly will greatly assist in poverty alleviation, reduction of social inequality and income generating programmes, said Mr Kabir.
Former president of Dhaka Chamber of Commerce and Industry and American Chamber of Commerce in Bangladesh Aftabul Islam was present at the seminar as the special guest.
He said that the impact of the Finance Ordinance 2008 was far reaching and government was utilising the Finance Ordinance 2008 with positive results.
Former president of the ICAB AN Altaf Hossain Siddique presided over the seminar, while Mr MJ Abedin and Mr MA Baree presented the keynote paper.