Business Report :
The interim government has formed a five-member advisory committee to initiate positive reforms in the National Board of Revenue (NBR).
The committee will provide recommendations on tax policy reforms, improvements in tax administration, automation and other related matters, the NBR said in a gazette on Wednesday.
The committee includes two former NBR chairman: Muhammad Abdul Mazid and Nasiruddin Ahmed.
The other members are Delwar Hossain, Aminur Rahman, and Farid Uddin, all former members of the taxes and customs divisions.
The NBR had recently also formed a seven-member task force to review and propose reforms to the Income Tax Law 2023, aiming to make it more pro-people and business-friendly.
Led by Tax Commissioner Ikhtiar Uddin Mohammad Mamun, the task force will scrutinize various aspects of the current law, including income tax rules, statutory regulatory orders, and their impact on taxpayers.
In addition to reviewing the law’s enforcement, the panel is tasked with evaluating the tax exemptions granted to different sectors by the NBR and suggesting necessary reforms.
The group will hold consultations with a wide range of taxpayers, including businesses, to gather feedback based on their experiences in the field, according to a UNB report.
The Income Tax Law 2023, which replaced the Income Tax Ordinance of 1984, was implemented in June last year. It introduced significant changes to tax return filing, corporate tax rates, and the powers of tax officers.
