National Single Window to be launched in March

The National Board of Revenue (NBR) will launch the National Single Window (NSW) from March next year to facilitate the ease of doing business by reducing procedural time, NBR Chairman Md Abdur Rahman Khan said today.

The NBR will offer services relating to 110 certifications and permissions of 19 authorities from the NSW, Khan said at a dialogue on 'Tax Reform in Bangladesh: Opportunities, and Priorities', jointly organised by Policy Exchange of Bangladesh and SMAC Advisory Services at The Westin in Dhaka.

The dialogue was attended by exporters, industry owners, bankers and tax experts. Snehasish Barua, managing director SMAC Advisory Services, presented the keynote paper while Masrur Reaz, founder and chairman Policy Exchange of Bangladesh, moderated proceedings.

Khan hinted that the interim government may reduce subsidies for different sectors as it needs to generate a huge amount of revenue to meet pressing requirements.

He also said a masterplan to fully automate services at the NBR was being drafted.

Alihussain Akberali, chairman of Bangladesh Steel Re-Rolling Mills, urged the interim government to fix the VAT rate at 10 percent as there is a possibility of increasing the amount of revenue.

He also suggested attracting more foreign direct investment (FDI) to create jobs for the unemployed.

Mir Nasir Hossain, managing director of Mir Akhter Hossain Ltd and a former president of the Federation of Bangladesh Chambers of Commerce and Industry, suggested rationalising the fiscal policy and said direct tax should be the major contributor to total tax.

Shams Mahmud, a former director of the Bangladesh Garment Manufacturers and Exporters Association, said circular fashion could save Bangladesh $9 billion in imports if jhoot (cloth scrapes) can be utilised properly.

He also demanded tax justice in Bangladesh.

Mohammad Iqbal Chowdhury, chief executive officer of LafargeHolcim Bangladesh, demanded quicker services from the NBR.