A task force headed by the National Board of Revenue (NBR) was formed to restructure Bangladesh’s income tax laws, with the main objective being the creation of more user-friendly rules for both people and companies.
Ikhtiar Uddin Mohammad Mamun, the tax commissioner, is in charge of the recently established seven-person committee. One of its mandates is to identify the essential improvements by conducting a thorough examination of the current income tax laws, rules, and statutory orders.
The task force will also assess the effects of implementing particular rules and regulations inside the current income tax system. As part of this program, a review of the many tax exemptions that the NBR has given to various sectors will be conducted, and reform suggestions will be made.
“We will hold meetings with internal and external stakeholders in order to obtain insights,” said task force member and joint commissioner of taxation Md. Mohidul Islam Chowdhury.
The NBR’s initiatives are part of a larger drive to improve the nation’s tax system’s efficacy and efficiency.
