Finance Minister Abul Maal Abdul Muhith said the government is considering a suggestion about reducing the corporate tax rate.
He came up with the remark while speaking as a chief guest at a ‘Pre-Budget Discussion’ organized by Dhaka Chamber of Commerce and Industry (DCCI) at Bangabandhu International Conference Centre on Saturday.
Muhith said it’s a good sign that the number of young tax payers is increasing adding that the government has undertaken a plan to introduce two-slab vat in the coming 2019-20 financial year.
Bangladesh Investment Development Authority (BIDA) has taken initiative to start on stop service to attract local and foreign investors through which investment assistance can be provided within seven months after submitting investment proposal, said the minister adding that interest rate on savings account will be reviewed after declaring the coming budget.
Muhith also stressed on the importance of ‘Competition Act’ to ensure balanced competition among the commercial institutions of the country.
He also stated the 26 government organizations’ share being unable to enter the capital market as frustrating.
In the programme, former advisor of caretaker government Dr A B Mirza Md Azizul Islam, and Chairman of National Revenue Board (NBR) Md Mosharraf Hossain Bhuiyan were present as the main discussants.
In his opening speech DCCI President Abul Kashem Khan said, Dhaka Chamber believes that it is important to simplify the tax policy and reform other policies before the next budget as well as to reduce current tax rate, provide tax card, reducing business expenditure, attract foreign investment, modernize communication infrastructure and so on.
Among others DCCI Vice President Kamrul Islam, FCA Vice President Riyadh Hossaind, Director Hossain A Sikder were also present in the occasion.