Business

Chittagong Chamber wants widening of tax net

The CCCI submitted 114 proposals for the upcoming budget

The Chittagong Chamber of Commerce and Industry (CCCI) has recommended widening the tax net without increasing the burden on regular taxpayers.

It was one of the 114 proposals the leading chamber submitted for the upcoming national budget during a pre-budget discussion with business leaders in Chattogram today.

Chittagong Chamber Administrator Muhammad Anwar Pasha presented the set of written recommendations to National Board of Revenue (NBR) Chairman Abdur Rahman Khan at the meeting held at the World Trade Centre in the city's Agrabad area.

In the proposals, the chamber also wanted strict monitoring to prevent misuse of bond facilities, prompt refund of advance income tax over-collected at the import stage, and initiatives to increase the number of taxpayers by lowering income tax rates.

Alongside the Chittagong Chamber, representatives from the chambers of Rangamati and Cox's Bazar also attended the session.

Through the Chittagong Chamber, business representatives submitted a total of 114 proposals, including 19 on income tax, 40 on value-added tax, and 55 on customs.

The upcoming budget should give special attention to women entrepreneurs, particularly in terms of VAT and tax policies, said Abida Sultana, president of the Chattogram Women's Chamber.

Chattogram Metropolitan Chamber President Khalilur Rahman highlighted the high VAT and taxes on machinery, urging the authorities to reconsider these rates to facilitate smoother import and export activities.

In response, the NBR chairman said, "There are many areas that do not fall directly under our jurisdiction. However, we've understood there are issues in the bond system, which is why we aim to fully automate it. But many stakeholders are resisting on grounds of inconvenience."

He added that efforts are underway to digitize processes such as issuing certificates, licenses, and permits, while also working to simplify VAT audits and return submissions.

"Without expanding the tax net, we cannot truly take part in the country's development," he said.

"Your demands are logical, but accepting all of them would significantly reduce revenue. We must strike a balance—rationally increasing taxes so that domestic revenue can play a larger role than foreign loans in national development," he added.

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Chittagong Chamber wants widening of tax net

The CCCI submitted 114 proposals for the upcoming budget

The Chittagong Chamber of Commerce and Industry (CCCI) has recommended widening the tax net without increasing the burden on regular taxpayers.

It was one of the 114 proposals the leading chamber submitted for the upcoming national budget during a pre-budget discussion with business leaders in Chattogram today.

Chittagong Chamber Administrator Muhammad Anwar Pasha presented the set of written recommendations to National Board of Revenue (NBR) Chairman Abdur Rahman Khan at the meeting held at the World Trade Centre in the city's Agrabad area.

In the proposals, the chamber also wanted strict monitoring to prevent misuse of bond facilities, prompt refund of advance income tax over-collected at the import stage, and initiatives to increase the number of taxpayers by lowering income tax rates.

Alongside the Chittagong Chamber, representatives from the chambers of Rangamati and Cox's Bazar also attended the session.

Through the Chittagong Chamber, business representatives submitted a total of 114 proposals, including 19 on income tax, 40 on value-added tax, and 55 on customs.

The upcoming budget should give special attention to women entrepreneurs, particularly in terms of VAT and tax policies, said Abida Sultana, president of the Chattogram Women's Chamber.

Chattogram Metropolitan Chamber President Khalilur Rahman highlighted the high VAT and taxes on machinery, urging the authorities to reconsider these rates to facilitate smoother import and export activities.

In response, the NBR chairman said, "There are many areas that do not fall directly under our jurisdiction. However, we've understood there are issues in the bond system, which is why we aim to fully automate it. But many stakeholders are resisting on grounds of inconvenience."

He added that efforts are underway to digitize processes such as issuing certificates, licenses, and permits, while also working to simplify VAT audits and return submissions.

"Without expanding the tax net, we cannot truly take part in the country's development," he said.

"Your demands are logical, but accepting all of them would significantly reduce revenue. We must strike a balance—rationally increasing taxes so that domestic revenue can play a larger role than foreign loans in national development," he added.

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