BASIS seeks direct link in automation

The Bangladesh Association of Software and Information Services (BASIS) has proposed its direct involvement in automating the tax-exemption certification and integrating VAT collection into the NBR system.

It also called for the removal of the 100-per cent cashless transaction requirement for tax exemptions of ICT entrepreneurs.

The BASIS put forward a set of proposals during a meeting with National Board of Revenue (NBR) chairman Abdur Rahman Khan on Wednesday.

BASIS president Russell T Ahmed, senior vice-president M Rashidul Hassan, vice-president (admin) Syed Mohammad Kamal and vice-president (finance) Iqbal Ahmed Fakhrul Hassan represented the association at the meeting.

According to BASIS official sources, several BASIS-affiliated companies are currently awaiting approval to participate in the NBR's VAT automation system.

The association urged that this matter be resolved promptly.

It also discussed reducing high tariffs on cybersecurity products and digital payment tools in addition to implementing income-tax rebates for professionals in software and IT service sectors.

The BASIS leaders further advocated incentivising on payments made through credit, debit or prepaid cards and also through mobile financial services (MFSs) to promote digital transactions.

They suggested reducing duties on smart cards and point-of-sale (POS) machines to below 15 per cent.

The BASIS also called for lowering import duties on IoT (internet of things) manufacturing and assembly to support industrial growth aligned with the Fourth Industrial Revolution.

Moreover, it emphasised the importance of nurturing the local market for web hosting and cloud services, stressing that such developments could attract investment and boost export revenues in the IT sector.

The association also recommended maintaining tax exemptions for Bangladeshi IT companies with an eye to stimulating further expansion.

The NBR chairman gave a patient hearing to the proposals and assured that the NBR would carefully consider them for the growth of the country's IT industry.

bdsmile@gmail.com