The upcoming direct tax code have to be easily readable and understandable for rural people who have the ability to pay minimum tax, Law minister Anisul Huq has said.
Anisul made the remark while addressing as the chief guest of 'consultation meeting regarding formulation of new income tax act' at the NBR Headquarters in the capital’s Shegunbagicha on Sunday.
The tax base has increased by threefold from the past, he said. So, NBR’s aim is to increase the revenue furthermore, he added.
“The new law has to be taxpayer and business friendly and therefore change is required,” the minister continued.
NBR organised the programme to share core points of the draft direct tax code with stakeholders and to have their opinion to make the law a better one.
The Direct Tax Act Code was drafted in 2012 with technical and financial support of International Finance Corporation (IFC).
The direct tax code, which will replace the Income Tax Ordinance 1984, is scheduled to be placed before the parliament by 2019.
The existing ordinance has already been in place for 32 years and therefore, enactment of an act is required to increase the revenue further, he said adding that the law has to be in Bangla language to have good effects.
The minister also emphasized on turning country's revenue collection system to an 'acceptable to people' and easy one.
He, however, asked NBR not to make revolutionary changes in the act to make it acceptable to people.
“There have to be a combination or integration of rigidity and flexibility in the act,” he said.
He also stressed for a guideline in the direct tax code on changing the attitude of the tax collectors.
NBR Chairman Nojibur Rahman said they will implement a taxpayer and business friendly direct tax law in the country.
Representatives from business community, different ministries, NBR members and former NBR members also spoke in the meeting, among others.
