The ongoing political impasse caused some Tk 78.83 billion loss in tax-revenue collection in the last 36 days, while businesses are incurring Tk 20 billion daily loss during the period, Dhaka Chamber of Commerce and Industry (DCCI) President Hossain Khaled said on Thursday.
He requested the National Board of Revenue (NBR) not to impose any additional tax on the business community for covering the revenue collection shortfall in this fiscal year (FY), 2014-15.
He said these at a meeting between the DCCI board of directors and NBR Chairman Md Nojibur Rahman at his office on the day.
DCCI requested that NBR should give 50 per cent tax waiver to the VAT-paying businesses, so that they can offset the losses, incurred due to the ongoing political turmoil.
It also urged the revenue board to consider 50 per cent rebate on all port charges, demurrage and penalties arising from failure in releasing imported goods from the ports timely due to the ongoing indefinite blockade-hartal.
The DCCI president also proposed to set tax-free income limit for individual taxpayers to Tk 2,75,000 from the existing Tk 2,20,000 in the next budget, and expand the tax-net to increase revenue collection.
He said the new VAT law should be business-friendly, and urged to impose minimum fixed VAT on small and medium traders.
He also urged NBR to prepare separate policies and roadmap for the country's automobile industry, and recognise it as an independent industry like shipbuilding.
The DCCI president proposed withdrawing present 15 per cent VAT on internet use to take the facility to the remote areas for changing the country into a digital one.
He also proposed withdrawing 3 per cent source tax on agency commission on selling air tickets by the travel agents.
Mr Hossain Khaled requested the revenue board to give tax exemption to chambers and trade-bodies, as these organisations spend most of their income in research, policy advocacy, publication and other activities to promote trade and commerce.
He also urged NBR to keep the country's education sector out of VAT and tax.
DCCI also demanded imposition of additional import duties and taxes on finished goods, being produced in the country, to protect the domestic industries.
The organisation also proposed reduction of corporate tax rate for the listed companies to 25 per cent from the existing 27.5 per cent, 35 per cent for the merchant banks from the existing 37.5 per cent, 30 per cent for the brokerage houses from 35 per cent.
The NBR chairman proposed to arrange income tax fair in upazila level in September to encourage and motivate people to pay tax.
He also said DCCI's budget proposals will be scrunitised. He informed that the Policy Guideline on Duty 2015 will be finalised soon.
DCCI vice president Md. Shoaib Choudhury, and directors AKD Khair Mohammad Khan, Abdus Salam, Asif A Chowdhury, Hossain Akthar, Khandakar Abdul Muktadir, K. Atique-E-Rabbani, Muktar Hossain Chowdhury, Nessar Maksud Khan and Osman Gani, and secretary general AHM Rezaul Kabir were also present in the meeting.
talhabinhabib@yahoo.com
DCCI for tax waiver to offset Tk 20b daily loss in turmoil
FE Report | Published: February 13, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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