The International Business Forum of Bangladesh (IBFB) held a Discussion Session on its recent research findings on “Complexities in the Income Tax Laws: A Quest for a simpler Taxation System” on Tuesday, 12 January 2010 at the Hotel Aristocrat, Rajshahi. Mr. Khairuzzaman Liton, Hon’ble Mayor of Rajshahi City Corporation was present as the Chief Guest, while Mr. Mijanur Rahman Minu, former mayor, Rajshahi City Corporation, Mr. Md. Hafizur Rahman Bhuiyan, Divisional Commissioner of Rajshahi were present as Special Guests,  Mr. Mahmudul Islam Chowdhury, President, IBFB and former Mayor, Chittagong City Corporation, chaired the session. Prof. Swapan Kumar Bala, Dept. of Accounting and Information System, University of Dhaka, presented the findings from the study.  

In his speech, Mr. Bhuiyan expressed hope that the Discussion Session will help to alleviate some of the fears related to paying income taxes. If the people do not pay their taxes, then the government will not run properly, and that it would be shameful for the nation if people were too keen to doge taxes. Currently, only 9% of the country’s Gross Domestic Product (GDP) comes from taxes, whereas in developed countries, this figure stands around at least 17%. He felt that a reason for the gap between the tax sector and the taxpayers is due to the mistrust between themselves. If people have the proper knowledge about taxes, then he felt that no one can trick the taxpayers regarding their due taxes.

Mr. Mizanur Rahman Minu said that although the northern region has less infrastructural development, there is still hope as evident from the construction of the Jamuna bridge. He feels that we should try to imitate the tax structure and methods of collecting taxes as used by Singapore or Sri Lanka if more tax revenues are to be collected.