Sylhet chamber proposes divisional tax tribunals, dedicated tax building
The proposal was presented today at the Advisory Committee meeting of the National Board of Revenue (NBR) held at the Pan Pacific Sonargaon Hotel in Dhaka.
The Sylhet Metropolitan Chamber of Commerce and Industry (SMCCI) has proposed establishing company tax appeal and tribunal benches at every divisional level, along with a dedicated Tax building in Sylhet, aiming to improve tax dispute resolution and enhance revenue collection efficiency.
The proposal was presented today (29 April) at the Advisory Committee meeting of the National Board of Revenue (NBR) held at the Pan Pacific Sonargaon Hotel in Dhaka.
Mohammed Tofazzul Hussain, FCA, representing SMCCI presented the proposal and said decentralising tax tribunals could significantly improve administrative efficiency and potentially double tax collection from regions such as Sylhet.
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According to the written proposal, establishing divisional-level tax appeal and tribunal benches, along with a dedicated Tax building in Sylhet, would strengthen the overall tax administration system and improve service delivery.
On transfer pricing, he noted that foreign companies currently rely on Moody's TP Catalyst for price adjustment tests, which is costly.
He recommended the NBR obtain a national licence from Moody's and distribute access among local users, which would reduce costs for businesses while generating revenue for the authorities through usage-based access.
He also raised concerns that foreign companies investing in PF and GF instruments under full compliance are facing difficulties in repatriating matured investments along with net tax-adjusted interest.
On RJSC-related reforms, he suggested that the last date for submission of private company tax returns should be recognised by the Registrar of Joint Stock Companies and Firms (RJSC) as a valid AGM date for small private companies.
He argued this reform could reduce unnecessary costs and redirect significant funds to the national exchequer.
He further said nearly 100,000 companies currently bear high compliance costs due to outdated regulations, some of which date back to the British era.
The meeting was jointly organised by the NBR and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), and attended by Finance Minister Amir Khosru Mahmud Chowdhury as chief guest. NBR Chairman Abdur Rahman Khan presided over the session.
