Business leaders want NBR steps towards ease of doing business

Business leaders from different sectors have urged the National Board of Revenue (NBR) to take bold steps, including those related to speeding up goods release at seaports, to facilitate doing business with ease in the country. 

To this end, they have also underscored the need for NBR automation, its collaboration with private sectors, and impediment-free tax-related services.

"Tax-GDP ratio should be increased. Simultaneously, keeping businesses and trade operational is also important," said Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

To improve the business environment in the country, the revenue agency must be digitalised first, he told a seminar at a city hotel. The seminar was organised on Wednesday to mark International Customs Day.

The FBCCI chief added that the customs authorities under the board should take steps to ensure a quick release of goods at different seaports. The apex trade body leader emphasised more collaboration between the NBR and stakeholders especially in formulating laws and rules for ensuring fairness and their smooth implementation.  

Agreeing with him, Russell T. Ahmed, President of the Bangladesh Association of Software and Information Services, said the NBR believed businesspeople want to evade tax all the time. "But this is not true."

The NBR should cordially deal with private sectors and enhance relations with businesspeople in order to earn their cooperation.

Shehzad Munim, managing director of British American Tobacco Bangladesh, agreed and suggested that the NBR widen hassle-free trade facilities for more authorised economic operators.

This year's Customs Day has been observed in 183 countries across the globe on the theme, "Scaling up customs digital transformation by embracing a data culture and building a data ecosystem".

At the Dhaka event, the Revenue Board, in collaboration with the World Customs Organisation, recognised 20 entities with certificates of merit for their unwavering support in trade facilitation.

Of the entities, three are organisations – Benapole's Customs House, Bangladesh Petroleum Corporation and Economic Reporters Forum­ – and the rest 17 are NBR officials.

Agriculture Minister Mohammad Abdur Razzaque and State Minister for Shipping Khalid Mahmud Chowdhury also spoke at the event.

Razzaque asked the NBR to increase its efforts to prevent money laundering in the name of over-invoicing and under-invoicing. He also urged the NBR officials to emerge free of the issues which have regularly been coming under criticism. "Otherwise, we (people) will continue with the criticism."

Speakers on the occasion also discussed different challenges to and potentials of the country in the next couple of years.

"Bangladesh is going to face some challenges after graduating from least developed country status. On the other hand, we have huge opportunities for drawing more foreign direct investment," FBCCI President Jashim Uddin said.

The government should now emphasise wide-scale industrialisation and employment generation. "Besides, it needs diversification of industries for achieving the annual export target of $300 billion. Only the apparel industry is not enough to meet the vision."  

NBR Chairman Abu Hena Md Rahmatul Muneem, at the event, vowed to continue his effort for ensuring good governance in the revenue agency. Trade facilitation and digitisation would be his priority, he added.

The NBR chief said the tax- GDP ratio of the country was hovering near 9%. "We studied the situation last year and found the ratio could be 16% if the government did not provide tax exemption facilities to different sectors."

The exemption declaration from high-ups created pressure on the NBR, Muneem noted.

Meanwhile, the customs authorities held another seminar in the port city of Chattogram to mark the day. Md Mahabubuzzaman, director-general of the Customs, Excise and VAT Training Academy, presided over the event at Customs House, with several senior NBR officials present.