- Only 2 percent of businesses in Bangladesh are registered for VAT.
- NBR is conducting drives to bring tax-evading businesses under the VAT system.
- Stronger enforcement measures will be taken to ensure compliance.
- The government will make turnover tax more manageable for businesses with an annual revenue of over Tk 3 crore.
- High taxation on tobacco products discourages consumption of harmful substances.
- Business leaders urged the government to simplify taxation, provide export incentives, and reduce tax burdens on SMEs.
- Tax procedures should be made easier and more acceptable.
- Incentives are crucial for export growth.
- The tax burden on SMEs should be reduced.
- Budget allocations should be done on a district basis to reduce gender and regional disparities.
- Special measures should be taken to strengthen the country’s foreign currency reserves.
Source: thedailystar.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
