The National Board of Revenue (NBR) Sunday urged the businesses concerned not to seek tax reduction in a wholesale scale as the government needs to mobilise more resources to finance its growing budget expenditure.
Md Mosharraf Hossain Bhuiyan, chairman of NBR, made the call at a pre-budget discussion with the leaders of Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) at his office in the city.
“Each year the size of budget is increasing. This year, an additional Tk 300 billion to 400 billion revenue has to be collected whereas our source is limited,” the NBR chairman said.
If businesses seek tax reduction in all areas, where will the tax-GDP ratio stand, he asked.
A delegation from BARVIDA, led by its president Md Habib Ullah Dawn, placed a number of demands to be reflected in the next fiscal year of 2018-19 to make vehicles available at an affordable rate.
Their demands included revision of the depreciation rate for import of old and reconditioned cars and vehicles under HS (Harmonised System) code from 87.02 to 87.04 on the basis of age of cars and rearranging the CC (Cylinder Capacity) slabs for imposing supplementary duties.
