It is essential to pay tax, which is also an ethical and legal obligation, for the sake of ensuring transparency and accountability, said Nazmus Salehin, Chief Executive Officer (CEO) and Managing Director of Standard Bank Ltd.
He explained if a company pays due tax, it actually builds its own better corporate image to the people to a large extent.
He was talking to Dhaka Tribune just after receiving prestigious tax card award under corporate company category.
Standard Bank Ltd got the award both in the FY2012-13 and FY2013-14 as one of the highest tax paying companies. However, Salehin said the tax imposed on the banks should be reduced for the betterment of the banking sector.
“Due to the high tax rate, it puts stress on the shareholders and causes negative impact on the profit, which also affects the customers in various ways.”