Corporate Houses Tax Returns To Go Online Next Year, NBR Chairman2 min read
Starting next year, corporate houses in Bangladesh will be able to file their tax returns online, marking a significant step toward reducing the challenges faced by taxpayers, announced Md Abdur Rahman Khan, Chairman of the National Board of Revenue (NBR) reportedly.
The announcement was made during a dialogue titled “Policy Alignment to Enhance the Trade and Investment Climate,” hosted by the American Chamber of Commerce in Bangladesh (AmCham) at The Westin Dhaka.
Khan highlighted the growing adoption of online tax filing, noting that over 1.2 million individual taxpayers had already submitted their returns online this year. This figure is expected to rise steadily in the coming years.
The NBR chairman addressed several pressing issues, including concerns about the withholding tax on head office expenses, promising a review of the matter.
He also acknowledged that Bangladesh’s tax rates are relatively high and expressed the NBR’s willingness to rationalize these rates to improve the business climate. However, he urged the private sector to ensure greater transparency in tax filings.
Read more: Increased Costs for Cooking, Communication, Internet, and Medicine, Impact of New VAT Policies
On the issue of value-added tax (VAT), Khan advocated for adopting a unified VAT rate and encouraged the business community to work toward a consensus on the matter.
Finance Adviser Salehuddin Ahmed attended the event as the chief guest, while Eric M Walker, Vice-President of AmCham, outlined the challenges Bangladesh faces as it transitions out of least-developed country (LDC) status.
Walker drew comparisons to Vietnam, which benefits from reduced tariffs under the EU-Vietnam free trade agreement. He warned that Bangladesh might lose duty-free access under the EU’s “Everything but Arms” initiative, potentially affecting its global competitiveness.
To counter these risks, Walker emphasized the importance of improving infrastructure, simplifying regulations, and aligning with global sustainability trends.
As Bangladesh prepares for its next phase of economic growth, the push for digital tax systems and policy alignment signals a crucial effort to enhance the country’s trade and investment climate.
For more updates, be with Markedium.
