Stop seeking tax exemptions
Finance Adviser Salehuddin Ahmed yesterday criticised long-term tax exemption beneficiaries who, despite receiving benefits for decades, continue to make demands for further protections.
"We have been taking care of the infant (business sectors) over the last 50 years with tax benefits, including tax waiver and incentives. Some are still demanding protection, meaning they are still infants," Ahmed said.
The adviser made the remarks while speaking at a programme organised by the National Board of Revenue (NBR) at its Dhaka headquarters to observe National VAT Day.
"I am not naming any specific sector, but those days are behind us now," he added.
Different business sectors must shift away from this dependency culture, as Bangladesh moves toward graduating from the United Nations least developed country category in 2026, Ahmed also said.
"If we don't discard this mindset, we won't be able to compete globally," he warned.
He also urged the NBR officials to remain vigilant to prevent tax evasion.
"If anyone evades tax now, it will hurt others, even their next generation (since the tax is used to benefit the society)," he said.
However, the adviser urged the NBR officials to become rational and patiently hear out complaints of businesses.
"Behave in a friendly manner. Listen to them and make rational decisions," he said.
"Their arguments also have a mandate. You might not be able to provide everything that they demand, but there must be rational decisions and a sense of kinship," he said.
NBR Chairman Md Abdur Rahman Khan stated that the government provides tax exemptions for the welfare of the nation.
"We have already taken steps regarding e-return filing so that taxpayers do not have to visit tax offices," he said.
"However, we must now focus on stricter enforcement (of regulations) to boost revenue collection," he said.
Finance Secretary Khairuzzaman Majumder underscored increasing revenue collection.
"If the tax-GDP ratio does not increase, where will so much wealth (which is required to run the country) come from?" he said.
At the event, Mohammad Belal Hossain Chowdhury, VAT policy member of the NBR, and Hafizur Rahman, administrator of the Federation of Bangladesh Chambers of Commerce and Industry, also spoke, among others.
Comments