Contractors need to mandatorily submit tax papers with tender bids; Kamal

DHAKA, Finance Minister AHM Mustafa Kamal today said that the contractors would now have to submit mandatorily their latest tax related papers including assessment copies and copies of tax certificates along with their tender bids.

“We’ve taken a decision from our today’s Cabinet Committee on Government Purchase (CCGP) meeting that the tax files of all the contractors will be verified whose related proposals will come to the CCGP,” he said.

The Finance Minister said this while briefing reporters after chairing two separate meetings on the Cabinet Committee on Economic Affairs and the CCGP held at the Finance Ministry Conference Room at Bangladesh Secretariat today.

The day’s Economic Affairs Committee meeting approved a proposal while the Purchase Committee approved seven proposals.

Kamal informed that the contractors who are interested to submit tender bids would have to have updated tax files while those who would not submit their latest assessment copies of their tax returns would be kept out of the tendering process.

Kamal said such decision has been made mandatory to have new taxpayers as well as generate more revenues. Besides, it will also help the government to know the assets and the financial capability of the contractors.

“Earlier, this was not mandatory. But, from now on, this has been made mandatory,” he said.

Answering to a question, the Finance Minister said the number of SROs is now on the declining trend to avert complexities side by side dedicated High Court benches are also there to deal with the NBR and banking sector related cases.

He said some important laws in the financial sector have already been enacted while some other related laws are likely to be passed in parliament before the next budget.

Source: Bangladesh Sangbad Sangstha (BSS)