Photo: Collected
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Thursday (4 April) placed a set a recommendations before the government, including that of raising the tax free income ceiling of individual taxpayers, for considering those in the budget for the next fiscal year (FY25).
The country's apex trade body proposed for raising the tax free income ceiling for individual taxpayers by Taka one lakh to Taka 4.50 lakh in the next budget and raising such tax free limit to Taka 5 lakh for the senior citizens and women considering the current inflation and the real income of low income people.
The NBR made their specific proposals in macroeconomic sector, revenue reforms, on income tax, VAT and Customs.
FBCCI President Mahbubul Alam placed the proposals while addressing the 44th NBR-FBCCI Consultative Committee Meeting on the budget for the next fiscal year (FY25) held at a city hotel.
Finance Minister Abul Hassan Mahmood Ali spoke at the meeting as the chief guest while State Minister for Finance Waseqa Ayesha Khan spoke on the occasion as special guest. NBR Chairman Abu Hena Md Rahmatul Muneem presided over the meeting.
FBCCI president Mahbubul Alam moderated the meeting while senior Vice President of FBCCI Md Amin Helaly gave the vote of thanks.
Business leaders representing various chambers, associations and sectors put forwarded their suggestions in the meeting on the next budget while three separate presentations were made on income tax, customs and VAT by concerned NBR members.
In the proposals on revenue reforms, the FBCCI president demanded for separating the operations on revenue collection and revenue policy and thus forming a trade facilitation department.
The country's apex trade body also proposed for integration and automation of tax, VAT, customs administration as well as forming a separate Large Taxpayers Unit in Dhaka and Chattogram.
Messenger/Sumon
