The National Board of Revenue (NBR) has sought proposals on income tax; value added tax (VAT) and import duty for preparation of the budget for the fiscal year of 2022-23.
The revenue board asked for the proposals from the Federation of Bangladesh Chamber of Commerce Industry (FBCCI) and other top chambers within February 5, 2022, reports UNB.
In addition to revenue collection, the NBR formulates fiscal policy after discussing with the traders and stakeholders.
Every year the NBR organises pre-budget discussion with representatives from different sectors to ensure participatory budgeting. The NBR is taking similar initiatives for the preparation of budget for the fiscal year 2022-23.
To this end, a participatory, people-oriented, business and taxpayer-friendly and potentially balanced budget with revenue potential, along with the proposals from taxpayers at all levels, including trade associations, professional organisations, research institutes and intellectuals.
The institutions, agencies or departments which are not members of any chamber or association can also send budget proposals directly or by mail to the NBR.