NBR initiates study to detect taxation loopholes

The National Board of Revenue has taken an initiative to conduct a research in finding out the causes of taking time in the process of off-loading goods and detecting the loopholes in the taxation procedure.   “The current world standard time of taxation is two hours while few countries have been doing it in three minutes,” NBR member Nasir Uddin told a seminar on Saturday . NBR organised the seminar titled “Time Release Study: A Step Towards Trade Facilitation” at a city hotel.   The official said the Chittagong Customs was taking as much time for completing the taxation as it took five years back. “It’s a gross failure and shameful in the perspective of the present day world.”   He stressed the need for detecting reasons behind delay in taxation activities and solving them by two to three months.   Chittagong Chamber of Commerce and Industry President Mahabubul Alam, commissioner of Chittagong Customs Mohammed Mashud Sadique and additional commissioner Mahabubuzzaman, among others, addressed the seminar, moderated by joint commissioner Mahmudul Hasan.   The port users, including freight forwarders, clearing and forwarding agents and shipping agents, took part at the seminar apart from the officials of different government agencies.