Metropolitan Chamber of Commerce and Industry president Saiful Islam on Monday demanded changes to the New Income Tax Act, 2023, saying that businesses were facing difficulties in being tax compliant in line with the act.
He said this at a program on ‘Payment of Taxes, Filing of Returns and Compliance with Provisions of Deduction of Tax at Source: Changes brought under the Income Tax Act, 2023 and Finance Act, 2023’ organized by the MCCI at its office in the capital Dhaka on Monday.
Tax commissioner for tax zone-15, Dhaka Ahsan Habib was present as chief guest while additional tax commissioner for range-2 Manzoor Alam and joint tax commissioner of range-3 Md Shahidul Islam of the same tax zone attended as special guests at the program.
MCCI president Saiful Islam presided over the program.
He said that the businesses had been facing challenges to survive since the Covid-19 period and the war between Russia and Ukraine made it harder for them to endure.
Introducing the new income tax act during the crisis period was challenging for the government, he said.
He said that MCCI members were contributing approximately 45 per cent of the total income tax earnings of the National Board of Revenue.
He suggested reforming and clarifying a number of provisions of the new act for promoting the tax culture among the businesses.
Joint tax commissioner for range-4 of tax zone-15 Wakil Ahmed presented the keynote paper at the program.
He elaborated on changes brought through the Income Tax Act, 2023 and the Finance Act, 2023.
He also explained the rules of tax deduction at source.
Ahsan Habib said that there was scope for reforming the Finance Act, 2023 and Income Tax Act, 2023.
November is the income tax service month and all the tax offices of the country will be prepared for providing income tax return related services to taxpayers, he said.
He also urged the businesses to submit applications and suggestions in terms of reforming the new income tax act.
MCCI Secretary General Farooq Ahmed also attended the program among others.
