Tax policy should be simplified to encourage mass people and the business community in paying taxes, Dhaka Chamber of Commerce & Industry (DCCI) President Rizwan Rahman said recently.
He said DCCI is happy to work with the NBR hand in hand to create a tax-friendly environment in the country and this effort will be continued in future.
Rizwan made the comments during the unveiling of "Tax Guide 2021-22" at the NBR office in the capital, says a press statement.
National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem unveiled the guide, in presence of NBR members.
The DCCI president welcomed a new initiative by NBR to upgrade the age-old tax law to explore more trade and investment opportunities. He hoped that the upcoming new law will soon come into effect and create a better business-friendly environment in the country both for local and foreign investors.
He said a business-friendly, simplified and timely tax law will expedite local as well as foreign direct investment.
The private sector contributes 80% of the total GDP and to strengthen the private sector, said the DCCI president and added that it is necessary to facilitate them with adequate policy support.
Meanwhile, thanking DCCI for publishing tax guides regularly to help the taxpayers and tax professionals, NBR Chairman Muneem said the more the tax structure will be user friendly, the more people will be encouraged to pay tax.
NBR is relentlessly working to ease the overall taxation system, tax structure, ensure a business-friendly tax eco-system, ensuring quality service and tax automation, he said.
He also said that a few working committees on technical, research and business aspects may be formed comprising representatives from concerned stakeholders and NBR for the overall development of the revenue structure.
Moreover, underscoring the importance of capacity development of NBR, Muneem said that NBR needs more skilled manpower to meet the growing demand of rapid economic development.
DCCI Senior Vice President NKA Mobin and Vice President Monowar Hossain were also present during the unveiling ceremony.