Automation of taxation to generate more revenues: DCCI president

FE Team | Published: January 13, 2024 22:11:28

DCCI President Ashraf Ahmed speaks at a workshop on 'Income Tax Act 2023: Corporate Tax challenges and opportunities' at the DCCI on Saturday.

President of Dhaka Chamber of Commerce and Industry (DCCI) Ashraf Ahmed said automation of taxation system will help reduce hindrances and increase tax.
"Few initiatives have been taken that would make it easier for businesses to submit their returns," he added.
The DCCI chief spoke at a workshop on 'Income Tax Act 2023: Corporate Tax challenges and opportunities' organised by the DCCI at its office in the capital on Saturday.
About 60 participants from different corporate houses took part in the workshop, said a press release.
Ashraf Ahmed said that the number of taxpayers in Bangladesh is lower than the expected level. "Country having 170 million people should not have only around four million taxpayers."
He further said that the source tax collected according to the clause 163(2) B, which makes Advance Income Tax as the minimum, effectively drives up the corporate tax rate.
Snehasish Barua, advisor, standing committee on customs, VAT, taxation & NBR-related issues of DCCI and partner, Snehasish Mahmud & Co., presented the keynote paper.
Murad Ahmed, joint commissioner of taxes, tax zone-4, Dhaka, requested the business community to use e-TDS more.