FBCCI seeks reforms in tax regime

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has demanded reforms in the country's tax regime for materialising the country's development goal, 'Smart Bangladesh'.

The country's apex trade body has also sought a business-friendly tax system and simplification of the tax collection process for increasing the tax-GDP ratio, diversification of exports, and foreign investment.

FBCCI President Mahbubul Alam made the suggestions at a workshop titled "Building a Resilient Economy for Vision 2041: Key Challenges and Way

Forward" organised at the FBCCI office in the city, according to a press release.

In his speech, Mahbubul Alam observed that one of the tasks and challenges in building a Smart Bangladesh is to improve the private investment environment.

"Ensuring and facilitating long-term loans for this investment is very important", he added.

He said the post-Covid crisis situation, the current world geopolitical context, the economic crisis caused by Russia-Ukraine and the war in the Middle East are having some negative impact on the overall economic activities of Bangladesh.

"However, traders are facing the biggest loss. In such a situation, it has become necessary to take initiatives in the coordinated efforts of the public and private sectors to organise the economic and commercial sectors in order to achieve a resilient economy according to the vision 2041," he added.

FBCCI Senior Vice President Md Amin Helaly and Vice President Md Munir Hossain, among others, were present on the occasion.

/KN/