Business leaders at a discussion on Sunday emphasised on expanding the tax net rather than increasing the tax rates for effective development of the country’s business sector.
They also demanded multi-layer VAT system and urged the government to put special attention on import substitute sectors.A business friendly and hassle free VAT collection system was also highlighted at the meeting which also urged the government to bring down the bank interest rate to a single digit.
They came out with these suggestions at a meeting of the apex trade body FBCCI with all the trade associations of the country at Dhaka Club on Sunday. FBCCI President Md. Shafiul Islam Mohiuddin was present at the meeting as the Chief Guest.
FBCCI Senior Vice President Sheikh F. Fahim presided over the meeting while FBCCI Vice President Md. Muntakim Ashraf and other directors were also present. Presidents and representatives of the associations attended the meeting.