'National Taskforce on Tax Restructuring' formed a week after NBR reform committee dissolved
Zaidi Sattar, economist and chairman of the Policy Research Institute (PRI), appointed as the head of the taskforce.
A week after the dissolution of the National Board of Revenue (NBR) Reform Advisory Committee, the government has formed a new nine-member 'National Taskforce on Tax Restructuring'.
The Internal Resources Division (IRD) of the finance ministry issued an order today (6 October), appointing Zaidi Sattar, economist and chairman of the Policy Research Institute (PRI), as the head of the taskforce.
According to the order, the taskforce will prepare recommendations to raise the tax-to-GDP ratio to a desired level and to suggest both short- and long-term policy measures for a business- and trade-friendly tax regime that supports overall economic growth.
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Alongside economists and government officials, the taskforce will also include representatives from the Institute of Chartered Accountants of Bangladesh (ICAB) and the Institute of Cost and Management Accountants of Bangladesh (ICMAB).
The taskforce has been asked to submit its report with recommendations to the finance adviser by 31 January.
Earlier, on 28 September, the government abruptly dissolved the NBR Reform Advisory Committee, surprising many stakeholders.
When asked about that decision, Finance Adviser Salehuddin Ahmed told The Business Standard that the previous committee had been formed to make recommendations on splitting the NBR.
"They could not submit any recommendations even after three months. Meanwhile, the NBR division process has already been completed. That is why that committee was dissolved," he said.
