Staff correspondent :<\/p>\n
National Board of Revenue (NBR) Chairman Abu Hena
\nMd Rahmatul Muneem today said that the tax net is being widened in the
\ncountry so that the tax burden is not imposed on a single individual.<\/p>\n
He also said that the proof for widening the tax net would also be found if
\nthe statistics on submitting the income tax returns over the last four years
\nis being analyzed.<\/p>\n
Muneem said that the number of income tax returns totaled 37 lakh in the last
\nfiscal year which was 21 lakh in 2020. The number of VAT returns in 2024 is 5
\nlakh which was 2 lakh in 2020.<\/p>\n
The NBR Chairman said this while addressing a pre-budget meeting with the
\nleaders of Chittagong Chamber of Commerce and Industry (CCCI) and the
\nbusinessmen of Chattogram region held at the Bangabandhu Conference Hall of
\nChattogram World Trade Center in Chattogram today.<\/p>\n
Presided over by CCCI president Omar Hajjaj, CCCI Vice President Tarafdar Md
\nRuhul Amin, Bangladesh Ship Breakers and Recyclers Association Vice President
\nZohirul Islam, C&F Agents Association general Secretary Kazi Mahmud Imam
\nBilu, Chattogram Fresh Fruits Vegetables Exporters Association president
\nMahbub Rana spoke on the occasion.<\/p>\n
The NBR chairman said that the government has been trying to provide special
\nincentives to the ICT, higher technology, products and services sectors to
\nboost production of high value added products as part of the preparations for
\nLDC graduation.<\/p>\n
Besides, he said support is also being provided to heavy industries to
\ndiscourage the import of luxurious products and to increase production of
\nsuch products locally.<\/p>\n
CCCI president Omar Hajjaj said that there is a need to increase the tax to
\nGDP ratio, but in doing so, it should be considered whether the private
\nsector and the businesses are capable enough to withstand the pressure in
\nsuch economic condition.<\/p>\n
He also proposed for undertaking a plan on how to increase the number of
\ntaxpayers without raising burden on the specific taxpayers.<\/p>\n
The businessmen in the meeting proposed for providing tax exemptions to local
\ntrusts and foundations, installing export scanning machines at ports to make
\nexport operations uninterrupted, addressing the HS code related problems, not
\nimposing customs fine for minor errors, simplifying audit, bringing down the
\nhighest VAT rate at single digit, enhancing manpower and lab capacity at
\nChattogram Customs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Staff correspondent : National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem today said that the tax net is being widened in the country so that the tax burden is not imposed on a single individual. He also said that the proof for widening the tax net would also be found if the statistics on submitting the income tax returns over the last four years is being analyzed. Muneem said that the number of income tax returns totaled 37 lakh in the last fiscal year which was 21<\/p>\n","protected":false},"author":1,"featured_media":4994,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"limit_modified_date":"","last_modified_date":"","rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"yes","rop_publish_now_accounts":{"facebook_5980380192037842_108390337697511":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[14],"tags":[],"class_list":["post-4993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=\/wp\/v2\/posts\/4993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4993"}],"version-history":[{"count":1,"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=\/wp\/v2\/posts\/4993\/revisions"}],"predecessor-version":[{"id":4995,"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=\/wp\/v2\/posts\/4993\/revisions\/4995"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=\/wp\/v2\/media\/4994"}],"wp:attachment":[{"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyenglishtimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}