DHAKA, Feb 6, 2017 (BSS)-Dhaka Chamber of Commerce and Industry (DCCI) has requested the National Board of Revenue (NBR) to give 'Tax Card' to all tax payers as an electronic smart card instead of giving it to VIPs.
During a meeting with NBR chairman M Nojibor Rahman today, the DCCI board of directors said NBR has to widen the tax net to increase government's revenue and proposed fixation of 7 percent VAT rate for all instead of existing 15 percent VAT.
DCCI President Abul Kasem Khan who led the DCCI board of directors in the meeting said if the area of Tax Card is expanded and all individual and business people are give this card offering all facilities they would be encouraged to pay tax.
Such card can be given in six categories-green card, green plus card, silver card, gold card and platinum card and taxpayers will get the card as per their tax payment capacity, he added.
Khan also proposed for increasing the limit of turnover tax to Taka 10.2 million from the existing Taka 8 million. For the retailers, Abul Kasem Khan proposed imposing no VAT on up to Taka 5 million turn over yearly and 3 per cent VAT for the yearly turnover up to Taka 10.2 million.
NBR chairman Md. Nojibur Rahman said NBR has announced February month as the month of 'partnership'. He said that government will implement new 'VAT Act 2012' from July 1 this year and he sought all cooperation from the business community including DCCI to make it popular among the businessmen.
He said NBR gave recognition to top ten VAT payers of the recently concluded Dhaka International Trade Fair. NBR will organize a National Conference of all "Deputy Commissioner of Taxes" on February 9 at city's Officers' Club.
He invited DCCI to participate in that conference and he sought cooperation from the business community to create a tax-friendly environment in the country.
DCCI Vice President Hossain A Sikder, Directors Asif A Chowdhury, Hossain Akhtar, Humayun Rashid, Imran Ahmed, K. Atique-e-Rabbani, FCA, Kh. Rashedul Ahsan, Mamun Akbar, Md. Alauddin Malik, Riyadh Hossain, former Sr. Vice President Haider Ahmed Khan, FCA and Secretary General AHM Rezaul Kabir were also present at the meeting.
Source: Bangladesh Sangbad Sangstha (BSS)