Dhaka: President of Dhaka Chamber of Commerce and Industry (DCCI) Taskeen Ahmed has urged the people as well as the businesses to submit their income tax and Value Added Tax (VAT) online (e-return) to overcome the existing obstacles in filing tax return. He made the request while inaugurating a workshop titled ‘Personal Income Tax and E-return’ organized by DCCI here today, said a press release.
According to Bangladesh Sangbad Sangstha, the DCCI President emphasized that every citizen and business must pay taxes as a moral obligation since it’s the main source of revenue generation for the government to implement development work, infrastructure projects, and deliver education, healthcare, and social safety net services. To strengthen the country’s economic foundation, the role of income tax and VAT is crucial, he stated.
Taskeen mentioned that compared to other countries, Bangladesh’s Tax-GDP ratio is relatively low, and in order to overcome this situation, the country must increase tax collection in line with the GDP. The Dhaka Chamber President further stated that the government has been encouraging the citizens to pay their taxes and has introduced the e-return system to eliminate existing obstacles in the tax payment process.
This initiative will help ensure greater transparency and accountability in overall revenue administration. He stressed that both individual taxpayers and businesses should use the e-return filing system to pay their taxes. The workshop featured three technical sessions on Income Tax, Value Added Tax (VAT), and E-return.
The sessions were conducted by Lutful Hadee, Proprietor and CEO of chartered accountancy (CA) firm Hadee Lutful and Co. Md. Shafiqul Alam, director of fintech solution providing company Bizz Solutions, and Snehasish Barua of CA firm Snehasish Mahmud and Co. shared their insights on their respective topics.
More than 70 participants from DCCI member firms attended the workshop and gained comprehensive knowledge on Income Tax, Value Added Tax (VAT), and E-return, which will facilitate them to run their business operations more smoothly. DCCI Senior Vice President Razeev H. Chowdhury and Vice President Salem Sulaiman were also present on the occasion.