The country鈥檚 businesses on Monday urged the National Board of Revenue for establishing separate wings for policy and implementation to enhance business sector consultations and advocacy.
They also emphasised the need for stabilising law-and-order situation in the country.
They revealed these while speaking at a dialogue titled 鈥楾rade and Investment Growth: Business Consultation, Law & Order, and Energy Crisis Management Hold the Key鈥� organised by the American Chamber of Commerce in Bangladesh in the capital Dhaka on the day, according to a press release.
AmCham president Sayed Ershad Ahmed called for customs automation, eliminating manual signatures and introducing double taxation relief.
He also stressed the need for the Export Promotion Bureau to focus on new export markets, research and development, and training, as trade shows were proving ineffective.
He also underscored the significance of policy stability in attracting long-term investment while strengthening the Bangladesh Competition Commission and Intellectual Property Rights.
In his speech as guest of honour, Sk Bashir Uddin, adviser for the Ministry of Commerce, emphasised the government鈥檚 efforts to create a more favourable environment for local and foreign investors by simplifying business regulations and improving infrastructure.
He urged businesses to focus on current operations rather than worrying about future uncertainties, as this concern was hampering economic growth.
He reassured that the government was addressing key issues impacting the economy, such as law and order challenges and inflation. He stressed the importance of public-private collaboration to drive growth and attract foreign investments.
Senior officials from the Bangladesh Investment Development Authority, the Ministry of Commerce, the NBR and the Bangladesh Bank attended the event, as well as representatives from major multinational corporations operating in Bangladesh.听听
At the event, beverage industry representatives Coca-Cola and PepsiCo raised concerns over high supplementary duty, sugar tax and minimum tax, urging a reduction in SD from 30 per cent to 25 per cent and turnover tax from 3 per cent to 0.6 per cent to boost investment, create jobs and drive business growth.
Representatives from financial services industry urged waiving mandatory income tax return slips up to Tk 5 lakh for credit card issuance.
Those from energy sector noted that the ongoing energy crisis could severely impact manufacturing unless proactive measures were taken and urged the government to take priority measures.
Textile and recycling industry sector representatives highlighted the need to remove VAT on recycled cotton and to treat it similarly to virgin cotton.
British American Tobacco Bangladesh highlighted that a recent sharp and abrupt SD increase, along with VAT and health surcharge, exceeded WHO recommendations, risking the sustainability of a legal industry supporting 4.4 million livelihoods and contributing over 11 per cent to the government exchequer鈥檚 revenue.
Commerce adviser Sk Bashir Uddin and American Chamber of Commerce in Bangladesh president Sayed Ershad Ahmed, among others, are present at a dialogue in the capital Dhaka on Tuesday.听 抖阴精品 photo
