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Widen tax net, invest black money in productive sectors, recommends FICCI

Update: 2010-06-23 12:12:50 AM

DHAKA: Foreign Investors’ Chamber of Commerce and Industry (FICCI) suggested the government to go for casting wide the tax net by reducing tax rates in the proposed budget for the FY 2010-11, which is being tossed by parliament before its passage within a week.

The chamber representing the foreign entrepreneurs doing business in Bangladesh, at a press meet held at a city hotel Wednesday, also recommended continuation of the opportunity for investing black money in the productive sectors.

President of FICCI Hamim Rahmatulla spoke at the press meet. General secretary of FICCI MA Matin and tax affairs adviser Dr. Quayum Khan were also present.

The speakers said increasing revenue earnings is a must to run the country. “But, the government would not gain putting pressure on the businessmen,” said the FICCI chief.

Replying to a query, Hamim Rahmatullah said in the proposed budget, the tax rate has been raised in a way that increased burdens on the taxpayers.

BDST: 02: 00 Hrs, June 23, 2010.

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