NBR chairman for user-friendly tax structures

National Board of Revenue Chairman Abu Hena Md Rahmatul Muneem on Sunday underscored the need for user-friendly tax structures to attract more taxpayers in the country.

“The more the tax structure will be user-friendly, the more people will be encouraged to pay more tax and at the same time, the tendency to evade taxes will also be decreased,’’ said the NBR chairman while unveiling “Tax Guide 2021-22” at his Segunbagicha office in the capital.

Addressing the event, Abu Hena thanked the Dhaka Chamber of Commerce and Industry for publishing tax guides on a regular basis to help the taxpayers and tax professionals.

NBR has long been relentlessly working to ease the overall taxation system, tax structure, ensure business-friendly tax ecosystem through ensuring quality service and tax automation, he said.

Abu Hena also pointed out that NBR regularly sits with the trade organisations, including DCCI, before preparing the budget as NBR always tries to consider the recommendations from DCCI.

A few working committees on technical, research and business aspects may be formed with the representatives from the relevant stakeholders and NBR for the overall development of the revenue structures, he further noted.

DCCI President Rizwan Rahman said the tax policy should be simplified and easy so that the mass people and business community would feel more encouraged to pay taxes.

He thanked the NBR chief for taking such a bold step for upgrading the age-old tax law with an aim to further explore more trade and investment opportunities.

Rizwan Rahman also hoped that the upcoming new tax law will come into effect to create a better business-friendly environment in the country both for local and foreign investors. A business-friendly, simplified and timely tax law will certainly expedite local as well as foreign direct investment, he said.

Private sector contributes 80 per cent of the total GDP and to strengthen the private sector, it is necessary to facilitate them with adequate policy support, he observed.

To encourage the members of the chamber, DCCI is publishing such a tax guide each year to distribute it among them, free of cost.