To increase investor confidence in Bangladesh, the Foreign Investors’ Chamber of Commerce and Industry (FICCI) called for a tax system that is more favourable to foreign investment on Wednesday.
To improve Bangladesh’s economy and make it a more desirable location for foreign direct investment (FDI), FICCI leaders met with Abdur Rahman Khan, the recently appointed chairman of the National Board of Revenue (NBR), and requested NBR’s assistance in changing the nation’s tax code.
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.
To broaden the tax net and boost revenue collection by in-depth market research and by detecting discrepancies between market share and revenue share, the delegation also argued for the establishment of a specialized research arm within the NBR.
In response, the chairman of the NBR stated that automation plays a crucial role in promoting economic growth and conveyed gratitude for the tax research paper published by FICCI.
Senior Vice President Eric M. Walker, the CEO, additional board members, and high-ranking representatives from member companies comprise the FICCI delegation. At the meeting were senior representatives from NBR as well.
