Bangladesh Chamber of Industries (BCI) has demanded simplification of the taxation system saying that people feel reluctant to pay taxes due to complexities.
“The taxation system must be simple and taxpayers-friendly so that people feel encouraged”, said BCI president Anwar-ul-Alam Chowdhury (Parvez) while addressing a press conference on Saturday at the BCI office in the city to place budget reactions, reports UNB.
President of the Metropolitan Chamber of Commerce and Industry (MCCI) president Md Saiful Islam and senior vice president of the BCI Priti Chakraborty and director Delower Hossain Raja were present on the occasion.
Parvez said that in the current system, experienced people do not encourage others to pay taxes due to the complexity of the system.
“If the government can create a friendly atmosphere, the number of taxpayers could reach 15 million within a year and the budget deficit could be met from the revenue collections,” he said.
The BCI presented a number of demands and recommendations for incorporation into the national budget.
Parvez also urged the government not to raise electricity and petroleum prices saying that if the cost of production goes up, it will impact the production and finally production would decrease.
He observed that young entrepreneurs would not be benefited from the special fund formed by the government due to the lack of specific policy guidelines in the national budget 2022-23.
“We urge the government to frame a policy guideline so that the young entrepreneurs can utilize the fund,” he said.
Parvez urged the government to rethink a decision not to allow the operation of business establishments including markets and shops after 8 pm.
He said the businessmen could not do their business for the last two years during the Eid. “So this year Eid is very important to them to do their business,” he said.