Let the businesses sustain, wealthy people invest

From the newspapers, we are learning about further tax-VAT hikes in the budget. Some increases and some decreases are okay, but it must be rational.

Businesses are in dire need for a reasonable tax-VAT burden to sustain, also we need easing of the tax-VAT and customs rules.

There is no doubt that the government needs more revenue, but it should not be through further taxing the existing taxpaying community. Excessive tax burden during these challenging economic conditions will further weaken industries as well as the economy.

Collection of more tax should be through significantly widening the tax net. We are waiting to see strategic plans, prudent moves by the interim government to create more and more taxpayers.

Taxing the wealthy individuals will not be a good move because they will be discouraged from disclosing wealth and income.

The higher tax will be paid only by the individuals who declare their wealth honestly, not by those who conceal and launder money abroad.

We expect the government to encourage more people and firms to pay taxes through lower rates.

The growing economy of Bangladesh, having a large population, really needs investment, be it from the local and non-resident individuals, or the conglomerates, foreign funds and multinationals.

Easing investors' lives is my top expectation from the interim government.

The annual development programme (ADP) is being cut, that is not a problem. Because the big spending targets were always unachieved.

However, government spending is behind a big part of the economic activities. Amid the slumped economic activities, we expect a proper implementation of the reduced development spending.

Aameir Alihussain is the managing director of BSRM Group. He spoke to TBS Special Correspondent Mahfuz Ullah Babu over the phone.