RJSC name clearance certificate issuance process 'should be decentralized'
Tuesday, 30 December 2008
FE Report
The name clearance certificate issuance process of the office of the Registrar of Joint Stock Companies and Firms (RJSC) should be decentralized for facilitating the businesses of the country.
The third meeting of the RJSC Reforms Committee, held in Chittagong recently emphasized on decentralization of the process.
The meeting attended by businessmen, chartered firms, lawyers put the emphasis on decentralization of the process so that businesses of the divisional cities are not affected.
"Now businessmen willing to establish a company have to collect the name clearance certificate from Dhaka creating lot of troubles for the businessmen who are living outside the capital city," a businessman was quoted as saying in the meeting.
The meeting also discussed on making the automation of the RJSC foolproof to deliver the service of the agency more user-friendly.
The complete automation will facilitate the government move under which an additional 40,000 business houses will come under tax net following the introduction of tax on turnover of the companies registered with the RJSC.
"The complete reforms of RJSC is expected to contribute Tk 10 billion to the government coffer," a reliable source said.
The project will create an electronic database for the RJSC by digitally archiving all manually kept files and digital entry of existing and newly registered companies.
Preservation of records of the companies for a permanent period will be possible to facilitate the businesses of the corporate entities concerned, once the automation is completed.
On an average some 600 companies get new registration with the RJSC every month, sources estimated.
Available data said nearly 60,000 business establishments are registered with the RJSC. Of them only 20,000 or less than 23 per cent are paying income tax.
The meeting was held under an initiative of the Regulatory Reforms Commission (RRC).
Chaired by RRC chief executive officer Apurba Kumar Biswas, the meeting was also addressed by IFC-BICF representative Aminur Rahman.
The name clearance certificate issuance process of the office of the Registrar of Joint Stock Companies and Firms (RJSC) should be decentralized for facilitating the businesses of the country.
The third meeting of the RJSC Reforms Committee, held in Chittagong recently emphasized on decentralization of the process.
The meeting attended by businessmen, chartered firms, lawyers put the emphasis on decentralization of the process so that businesses of the divisional cities are not affected.
"Now businessmen willing to establish a company have to collect the name clearance certificate from Dhaka creating lot of troubles for the businessmen who are living outside the capital city," a businessman was quoted as saying in the meeting.
The meeting also discussed on making the automation of the RJSC foolproof to deliver the service of the agency more user-friendly.
The complete automation will facilitate the government move under which an additional 40,000 business houses will come under tax net following the introduction of tax on turnover of the companies registered with the RJSC.
"The complete reforms of RJSC is expected to contribute Tk 10 billion to the government coffer," a reliable source said.
The project will create an electronic database for the RJSC by digitally archiving all manually kept files and digital entry of existing and newly registered companies.
Preservation of records of the companies for a permanent period will be possible to facilitate the businesses of the corporate entities concerned, once the automation is completed.
On an average some 600 companies get new registration with the RJSC every month, sources estimated.
Available data said nearly 60,000 business establishments are registered with the RJSC. Of them only 20,000 or less than 23 per cent are paying income tax.
The meeting was held under an initiative of the Regulatory Reforms Commission (RRC).
Chaired by RRC chief executive officer Apurba Kumar Biswas, the meeting was also addressed by IFC-BICF representative Aminur Rahman.