The Institute of Cost and Management Accountants of Bangladesh, a leading professional body, on Thursday submitted its proposal to the National Board of Revenue (NBR), specially focusing on an investment-friendly Tax and Value Added tax (VAT) structure, to be considered in the upcoming national budget for the fiscal-year 2022-23.
A set of recommendations of the ICMAB also suggest to exclude Senior Citizens from submission of income Tax Return.
A delegation of ICMAB led by its President Md. Mamunur Rashid FCMA submitted the proposal and highlighted on the importance of the changes in a meeting presided over by the Chairman of National Board of Revenue (NBR) Abu Hena Md. Rahmatul Muneem on March Wednesday at NBR office in the capital. The 40 point proposals also include to remove the provision for tax on stock dividends, increase of presumptive tax by measuring actual profit of motor vehicle for commercial used , exemption from Tax return of Senior Citizens whose source of income is pension and interest on savings. Among others, Treasurer of ICMAB, Md. Ali Haider Chowdhury FCMA, Fellow Member Jayanta Kumar Podder FCMA were also present in the meeting.
