Dhaka Bureau: President of FBCCI, the top organization of businessmen, Mahbubul Alam, told NBR, ‘businessmen want to do business without harassment. If harassment is stopped, traders will pay taxes and VAT correctly. At present, the businessmen of Bangladesh are far ahead. Traders are always with the National Board of Revenue (NBR), if not harassed.
He said these things at a function organized on the occasion of National VAT Day at the Multipurpose Hall of Revenue Bhavan, Agargaon, on Sunday. “Perhaps one to two percent of the businessmen may have trouble with taxes. If the harassment is reduced, it will not be there either. He said, “The scope of taxation should be increased to increase revenue without increasing the burden on those who pay taxes.” There is business at the upazila level; attention should be paid there. At the same time, in the case of VAT collection, special attention should be paid to the installation of EFD machines in all sector-wise shops at the same time.
NBR chairman Abu Hena said in the speech of the president. Rahmatul Munim cited the example of India and said, “Most of the total revenue is given by a handful of big business companies in the country.” ENIBRO is also working on expanding the tax reach to increase the country’s revenue. However, the culture of collecting revenue from the private sector in Bangladesh is not very old. Therefore, to increase revenue, the big business organizations have to come forward.
Speaking as a special guest, Commerce Secretary Tapan Kanti Ghosh said, “We have improved, but income inequality has also increased over the last 30 years.” NBR has the weapon to reduce this disparity. NBR can reduce that disparity through its income tax structure and income tax levy.
Three said that about 12 thousand crores of incentives are given for 43 export products. After some time, we will not be able to give it. For this, how to provide policy support is being worked on.
Complaining that businessmen are not behaving responsibly, the Commerce Secretary said that the previous day, India had announced the ban on onion exports, and the next day, the price of onions was increased by Tk 70–80. Businessmen should understand that their business is for the people of this country. Of course they will make a profit, so saying that it was 120 rupees the previous day becomes 200 tk in one day is not logical at all.
He said that to keep the market situation within the reach of the people, duty was withdrawn on daily commodities. Even if the revenue decreases, we have to take all these initiatives. Political matters are also connected with it. Similarly, tax waivers are provided to support domestic industries.
In the event, nine companies were given the best VAT payer award. Among the awardees in the manufacturing sector are Olympic Industries, UniMed, UniHealth Pharmaceuticals, and General Pharmaceuticals. The business category includes Walton Plaza in Gazipur, Unimart in Gulshan, and Hamco Corporation Limited. And in the service category, the top three VAT payers are Bikash, Tejgaon’s BRAC-Arang, and Nagad Limited. NBR Chairman Abu Hena. Rahmatul Munim and other guests presented the crests to the awardees.
