Business Initiative Leading Development (BUILD) has proposed to increase the tax-GDP ratio to uphold the interest of consumers and productive sectors.
“We see no other option for increasing the Tax GDP ratio. The existing ratio of direct and indirect tax in Bangladesh is around 35:65 which should be reversed”, said BUILD Chairperson Abul Kasem Khan.He came up with the recommendation while placing their proposals before the NBR in formulating the national budget for the fiscal year 2021-22.
NBR Chairman Abu Hena Md Rahmatul Muneem and other senior officials were present in the pre-budget talks held at NBR headquarters in the capital on Tuesday.
BUILD placed some effective recommendations in a bid to facilitating the tax revenue collection procedure of the government focusing on widening tax net, corporate tax reduction, minimizing the gap of supply side and demand side and simplifying the tax payment procedures.
It also thinks that priorities for this year Budget should be increase the tax-net, reduce the tax-rates, simplify tax payment procedures to encourage taxpayers.