Ficci supports increasing tax GDP ratio to 22pc

Business Desk :
President of Foreign Investors’ Chamber of Commerce and Industry, Zaved Akhtar on Wednesday said that Bangladesh needed to improve its tax GDP ratio from the ongoing 8.74% to 22% to achieve Vision 2041.
He made the remark while addressing a pre-budget meeting between the FICCI and the National Board of Revenue at the NBR headquarters in the capital’s Agargaon area.
The Ficci president said that the private sector’s cooperation would be indispensable to achieve the target.
Ficci identified the need for a comprehensive and Integrated Digital Architecture for the country to track economic transactions and attract taxes from the taxpayer, he said, and added that Ficci also highlighted the immediate action to integrate already available systems such as E-TDS, online return, e-TIN etc.
He also highlighted the need for the simplification of taxation systems and elimination of manual processes to ease compliance and reporting.