Business Report :
Small traders have urged the government to ensure business friendly environment through easing value-added tax (VAT) management, stop harassment, and improve the law and order situation for conducting smooth business operations.
They said despite having international geo-political impact, the overall trade and investment situation is facing high rate of interest on bank loans, lack of access to finance, higher VAT and tax rates and its complex management system, lack of automation, and traffic congestion.
The small traders of Dhanmondi, Mohammadpur, Shaymoli and Adabar areas said this in an interactive view-exchange meeting organized by Dhaka Chamber of Commerce & Industry (DCCI) on recent trade and investment scenario and other related issues at Tokyo Square Convention Centre in the city’s Mohammadpur on Saturday.
The discussion meeting was chaired by Taskeen Ahmed, President of DCCI, said a press release.
Dhaka Chamber President Taskeen Ahmed, in his opening speech, said that under the current circumstances, there is no alternative to building a safe, stable and predictable business environment.
Taskeen Ahmed said that Dhaka Chamber has already proposed to bring the overall revenue management under full automation in the upcoming budget along with rationalizing tax rates, introducing single digit VAT rate and fixing 1% VAT for the informal sector and introducing a VAT return app, which will improve the business environment and increase the government’s revenue collection.
He also said that easy access to credit, bringing mobility by implementing automation in export-import operations and timely policy support from the government is necessary to continue the growth of industrialization.
Taskeen said that the businessmen want to pay tax. “We pay tax and VAT, but we don’t want any harassment.”
Regarding law and order, he said it is inevitable to ensure the rule of law and its enforcement to make sure that business operations remain active at any level.
Mohammad Mostafizur Rahman, Additional Director (SME and Special Programs Department), Bangladesh Bank, said that the central bank issued a master circular on March 17, 2025 to increase the credit flow to the SME sector.
To facilitate the businessmen, the period of term loan has been extended to 7 years from previous 5 years since the investors need at least 2 years for establishing factories, he added .
