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MCCI holds discussion meeting on tax payment

01 October 2022

The Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI), in partnership with Taxes Zone 15, Dhaka, organized a discussion meeting on payment of taxes at its Motijheel office in the capital recently.
The title of the meeting was "Payment of Taxes, Filing of Returns and Compliance with Provisions of Deduction of Tax at Source: Changes Brought by the Finance Act, 2022".
Md. Saiful Islam, president, MCCI, chaired the meeting.
 AKM Hasanuzzaman, tax commissioner, Taxes Zone-15 under the National Board of Revenue (NBR), graced the event as the chief guest. Additional, joint, and deputy tax commissioners and other senior officials of the NBR, members of the Board of Directors of MCCI, and representatives from the business community took part in the meeting.
The objectives of this meeting were to help everyone understand the importance of the relevant issues of Finance Act, 2022, the accurate filing of income tax returns, the compliance with the rules of deduction of tax at source, and also showing the use of the electronic tax deducted at source (eTDS) system, said a press release.
Bangladesh has one of the lowest tax-GDP ratios in the world. The speakers said as the country advances towards achieving the coveted 'developing country' and ultimately 'developed country' status in the future, it has to shift away from the current dependence on indirect taxes and instead focus on direct taxes for revenue generation.
In his welcome speech, the MCCI President said that the global economy was going through challenging times of late, first because of the pandemic, and later, the Russia-Ukraine war. The Finance Act, 2022, took all such global challenges into consideration. He praised the NBR for taking MCCI's suggestion of updating the tax system and working effortlessly towards it. Implementing online and automation systems could save cost and time for businesses, he believed.

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