Business leaders of the country requested the National Board of Revenue (NBR) to ensure a conducive business climate by bringing reforms to the revenue sector.
They also demanded that the authorities maintain a hassle-free tax office, expand the tax net and refrain from putting pressure on existing taxpayers.
When the NBR officials form a policy, initially they just focus on achieving immediate targets, said Nihad Kabir, chairperson of the trustee board of Business Initiative Leading Development (Build).
She was addressing a seminar on the role of income tax in a country's economy organized by the NBR as a part of its "Revenue Conference 2023" at Bangabandhu International Conference Center.
If the tax policy and administration are separated, the policies will be business friendly, echoed MA Momen, vice president of the Federation of Bangladesh Chambers of Commerce and Industry.
In terms of policy adoption for the upcoming budget, the NBR should play an important role considering the global economic situation to bring ease to the business climate, added Momen.
Due to tax exemption offered to green factories, the highest number of such factories now exists in the country, said Asif Ashraf, a director of the Bangladesh Garment Manufacturers and Exporters Association.
"We remain in fear all the time, because if we make a profit this year, we will have to pay the same amount of tax next year. But there is no guarantee of profit next year," he said.
However, at the event some taxpayers spoke about the sufferings they faced while paying tax.
They said they felt harassed by the NBR officials when they came to pay their income tax at the NBR office.
As of January 2023, there are 8.45 million registered taxpayers but only 285,000 submitted income tax returns as of December2022, according to the NBR.
There is a lack of trust between taxpayers and tax officials and this has to be overcome by increasing the use of information technology, said Mohammad Muslim Chowdhury, comptroller and auditor general of Bangladesh.
He also feels that revenue collection and revenue policy formulation should be under separate administrations.
Md Alamgir Hossain, a former NBR member, also spoke while Abu Hena Md Rahmatul Muneem, chairman of the NBR, chaired the event.
