NBR chairman urges businesses to stop seeking tax exemptions

Staff reporter :

The chairman of the National Board of Revenue (NBR), Md Abdur Rahman Khan, has called on businesses to abandon their reliance on tax exemptions and instead focus on sustainable growth through competition.
“There is a mindset among many businesspeople that business cannot thrive without tax or VAT exemptions.”
The event was held at the Multipurpose Hall of the NBR, with Finance Adviser Dr Salehuddin Ahmed as the chief guest.
Khan raised a critical question about the success of developed countries, where businesses grow without heavy reliance on tax or VAT exemptions.
“Please calculate your business accounts, including VAT and tax. If the numbers make sense, then go ahead with that business. If not, don’t pursue it,” he advised, emphasizing the importance of sound financial planning over dependence on government incentives.
The NBR chief also pointed to governance issues as a major hurdle in fostering fair competition and growth across industries. “In my personal opinion, the main problem is governance. We cannot open various sectors for all businesses,” he remarked.
He stressed that opening up more sectors to competition would benefit the economy and ensure fairness.
“Many industries are controlled by a small group of players who block new entrants. We need to address this. If we can ensure open competition, these issues will correct themselves automatically,” he added.
Speaking to the “Policy alignment to enhance the trade and investment climate” organised by the American Chamber of Commerce in Bangladesh (AmCham) at The Westin Dhaka in the capital, NBR chairman said corporate houses in Bangladesh will be able to submit their tax returns through online from next year, which will significantly reduce their difficulties, said Md Abdur Rahman Khan, chairman of the National Board of Revenue (NBR).