The International Business Forum of Bangladesh (IBFB) held a Stakeholders Meeting on “Excessive Regulations on doing business in Bangladesh: A Study on Tax Administration” on Wednesday, 18 November, 2009 at the IBFB Conference Room, IBFB Office, Banani, Dhaka.
The meeting was attended by Mr. Faruq A Siddiqi, former Chairman, Securities and Exchange Commission, Ms. Taleya Rehman, Chairperson, Democracywatch, Advocate Rokhsana Khondker, Executive Director, Khan Foundation, and Mr. Karar Mahmudul Hassan, former Secretary. Mr. Mahmudul Islam Chowdhury, President, IBFB and former Mayor, Chittagong City Corporation, chaired the session.
Mr. Faruq A Siddiqi said that taxes needed to be paid for the overall development of the country. There is no denying the fact that corruption prevails among tax officials, and this is because of a lack of accountability and transparency. He further said that steps needed to be taken to simplify tax laws. Mr. Siddiqi felt that the National Board of Revenue (NBR) was the Government sector receiving the least amount of attention and this can not continue if the development of the country is to be ensured through the proper collection of taxes.
Ms. Rehman felt that the word tax now seems more like a threat and that the Government has not been able to get rid of the fear associated in the minds of the citizens regarding taxes. She also said that the Government should emphasize on accountability and transparency in this sector by informing the public how their tax money is being used for development of the country and in that way, people would be motivated to pay more taxes.
In his opening remarks, Mr. Chowdhury said that IBFB strives to identify all common challenges and obstacles faced by the economic constituencies and lobbies for any changes in policymaking which will improve the business climate in Bangladesh, and for this reason, being an important issue for the business community, the study on this sector was conducted. He expressed his hope that IBFB will be able to identify the problems related to the tax sector and propose possible remedies to the relevant authorities.
Brig. Gen. (Retd.) M . Mofizur Rahman
Executive Director and Adviser
IBFB
