NBR forms taskforce to reform income tax law

The National Board of Revenue (NBR) has formed a task force to reform the income tax law with the objective of making the rules people- and business-friendly.

The seven-member committee headed by Tax Commissioner Ikhtiar Uddin Mohammad Mamun will analyse income tax law, rules, statutory regulatory orders and suggest reforms.

The team will also examine the impact of enforcement of the provisions and rules of the income tax law, according to a notice the NBR issued by the end of last month.

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The panel is also assigned to review the tax exemptions given by the NBR to various sectors and recommend reforms.

"We will hold meetings with internal and external stakeholders," said Md Mohidul Islam Chowdhury, a joint commissioner of taxes and a member of the task force.