- DCCI advocates for a uniform single-digit VAT rate across all sectors, including the RMG industry.
- DCCI proposes a 1 percent VAT for informal sector traders.
- DCCI suggests adjusting the tax-free income limit for individuals from Taka 3.50 lakh to Taka 5 lakh.
- DCCI proposes a gradual reduction of advance tax for commercial importers and manufacturers.
- NBR Chairman Abdur Rahman Khan acknowledged the challenges posed by the current tax system and expressed the NBR’s commitment to reforming revenue policies to facilitate trade and investment.
- NBR is open to considering a single-digit VAT system if the business community reaches a consensus on VAT rates.
Source: apparelresources.com
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.
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