Workshop on new Income Tax Act held

FE Report

The Bangladesh Civil Service (BCS) Taxation Association conducted a workshop on the new Income Tax Act-2023 on Saturday to highlight the pros and cons of the law, which came into effect on July 1, 2023, in order to ensure its smooth implementation.

Chairman of the National Board of Revenue (NBR) Abu Hena Md Rahmatul Muneem attended the event as the chief guest. The workshop took place at the multipurpose hall of NBR Bhaban in the city, said a statement of the association.

Income Tax Policy Member Dr. Shams Uddin reviewed various findings from the tax commissioners.

The workshop was chaired by Md Iqbal Hossain, Member (Tax Appeal and Exemption), and President of the BCS Taxation Association while Md Mahmuduzzaman, Additional Tax Commissioner from Tax Zone-10, delivered the welcome speech.

The workshop featured six sessions covering various aspects of the new law, including its implementation process, tax returns and statements, tax computation, audits, compliance timelines, suspension, custody, presentations on major income categories, tax evasion and recovery procedures, arrears, tax determination, adjustment of corporate taxpayers' losses, tax registration, penalties, revisions, appeals, Alternative Dispute Resolution, criminal cases and data protection, among others.

Different sessions were chaired by GM Abul Kalam Kaikobad, Member (Tax Audit, Intelligence, and Investigation), Ahmed Ullah, Member (Taxes Legal and Enforcement), Md Mahmudur Rahman, Member (Tax Survey and Inspection), and Md Nazmul Karim, President of Taxes Appellate Tribunal, Dhaka.

Commissioner of Taxes Md Sirajul Karim, Ikhtiar Uddin Mohammad Mamun, Ahsan Habib, and Md Shahidul Islam discussed various aspects of the new law.

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