Foreign investors call for tax structure reform

The Foreign Investors' Chamber of Commerce and Industry (FICCI) today (11 September) called for a tax structure more favourable to foreign investment, aimed at boosting investor confidence in Bangladesh.

During a meeting with the newly appointed chairman of the National Board of Revenue (NBR), Abdur Rahman Khan, FICCI leaders sought NBR's support in reforming the country's tax system to make Bangladesh a more attractive destination for foreign direct investment (FDI) and strengthen the national economy.

FICCI President Zaved Akhtar emphasised the importance of fully digitising NBR operations, with a focus on enhancing automation systems to optimise revenue generation, according to a press release from the chamber.

The delegation also advocated for the creation of a dedicated research wing within the NBR to expand the tax net and increase revenue collection through thorough market research and by identifying gaps between market share and revenue share.

In response, the NBR chairman acknowledged the critical role of automation in driving economic growth and expressed appreciation for FICCI's research publication on taxation.

The FICCI delegation include Senior Vice President Eric M Walker, other board members, the CEO, and senior officials from member companies. Senior NBR officials were also present at the meeting.