Hassle-free Vat laws sought

Our Correspondent CHITTAGONG, October 22: Discussants at an opinion exchange meeting on the draft VAT laws have urged the authority to ensure the officials cannot harass the businesses through misuse of power. They said the draft laws have many good elements but it was found in the past that in most cases the officials engaged in realizing value added tax resorted to harassment that discourage the Vat payers. The NBR, IFC and Chittagong Chamber of Commerce and Industry jointly organized the meeting at the CCCI conference room in the afternoon while the meeting in the morning was organized in association with Chittagong Metropolitan Chamber of Commerce and Industry at its conference hall. Secretary of the Internal Resources Division and chairman of National Board of Revenue Dr Nasir Uddin Ahmed attended the functions as chief guest while commissioner of the major tax payers' unit of the VAT Barrister Jahangir Hossain briefed on the draft laws. The NBR chairman said this time the government is going to present modern, dynamic, transparent and tax-friendly Vat Laws which will enhance revenue of the government and provide better services to the taxpayers as well. The income on account of Vat is nine per cent of the GDP (gross domestic product) and it will increase in phases, he said. The Vat was introduced in 1991. Since then the national income on this account has increased by 14 times, he added. Dutch Vat expert Professor Bentherra opined that the new Vat laws if implemented could provide better services to the businesses than those in the western countries. The trade body leaders hailed introduction of Vat because, they said, it helps build the national economy on a solid foundation having direct contribution of the people. CCCI senior vice president Mahbubul Alam emphasized on strengthening the NBR with incorporation of transparent, business-friendly, accountable and hassle-free provisions. CMCCI president Khalilur Rahman stated that there are some 200 clauses in the draft Vat Laws with so many notes and annotations. But it lacks concrete regulations which would make the laws more transparent and accountable. They observed that the Vat rules when amended by politicians in the parliament often go against businesses in stead of serving their purposes.