Dr Ahsan H Mansur urges govt to be careful about new income tax law

Dr Ahsan H Mansur, economist and executive director of Policy Research Institute (PRI), suggests the government be careful about the new income tax law which is likely to be tabled in this parliamentary session.

"We need a new law, no question about it. However, we also need to be careful and not rush through it," he said in a post budget discussion held at a hotel in the capital organised by the Americal Chamber of Commerce in Bangladesh (AmCham) on Wednesday.

He said, "Is this law in line with the international best practices? It should not be homegrown. I don't believe in that.

"We need an international standard tax law. And has it been vetted by international tax experts? They can guide us regarding the law's adequacy with respect to international best practices."

He said, "I will advise the government to take their time. Don't rush it, consult with the stakeholders for final decision. They can still give their opinion. Look at the law carefully. Does it really make sense? And if it does make sense, modify it, amend it, and then present it in the parliament."

Syed Ershad Ahmed, president of AmCham, presided over the discussion titled "Post-budget panel discussion" while Planning Minister MA Mannan was present as chief guest.

Former National Board of Revenue (NBR) Chairman Dr Muhammad Abdul Majid, Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) former president Fazlul Hoque, Managing Director of Coca-Cola Bangladesh Beverages Limited Ta Duy Tung, and Chairman of Policy Exchange Dr M Masrur Reaz spoke among others.