Institute of Chartered Secretaries of Bangladesh (ICSB) organised a seminar on ‘Finance Act, 2018 vis-à-vis National Budget 2018-19’ recently at Dhaka Cub, Dhaka.
Mr. Md. Mosharraf Hossain Bhuiyan, NDC, Senior Secretary, Internal Resources Division & Chairman of National Board of Revenue (NBR) graced the occasion as the Chief Guest.
Mr. Mohammad Asad Ullah FCS, Chairman, Professional Development Sub- Committee, Immediate Past President and Council Member of ICSB referred to section 174 of the Income Tax Ordinance, 1984 and Rule 37 of the Income Tax Rules 1984 which provides the eligibility of Chartered Secretaries as Income Tax Practitioner (ITP).
He urged NBR to take necessary positive steps to include ICSB members and profession as ITP and Mushak Agent in the Income Tax Ordinance and VAT law by issuing necessary SRO(s).
He also urged upon the NBR to reduce the highest ceiling of individual tax rate from 30 per cent to 25 per cent and exempt the surcharge on the individual assets.
"For achieving the tax and VAT target fixed by the government, NBR should undertake all effective measures to extend its tax and VAT net and bring minimum 10 per cent of the total population under tax and VAT net by 2041," according to a statement issued by ICSB.
The Chief Guest appreciated the profession of Chartered Secretaries who are working to ensure good governance in corporate sector and assured that he will take all out measures to include the profession of Chartered Secretary as Income Tax Practitioner (ITP) and Mushak Agent who can provide services to their clients professionally. He added that Government has to ensure additional funding for different mega projects like the Padma Bridge, Airport and Metro Rail etc. For this, NBR wants CS Professionals to work with them to achieve target.
Mr. Kanon Kumar Roy Member (Tax Policy) of NBR also assured to look into the issue positively. A large number of Professionals, Qualified Chartered Secretaries and Corporate leaders and Executives from the leading corporate houses of Bangladesh also attended the programme.
The Keynote Paper was presented by Mr. Sadhan Chandra Das FCA, FCS, Partner, Sadhan Das & Co. Chartered Accountants.
The designated discussants were Prof. Dr. Feroz Iqbal Faruque FCS, FCCE, CPA and Mr. Md. Azizur Rahman FCS.
-rmc//
