DCCI urges NBR to avoid harassment in source tax drive

The Dhaka Chamber of Commerce and Industry (DCCI) has said if the initiative of the National Board of Revenue (NBR) to strengthen deduction, deposit, monitoring and verification of source tax under the tax law is properly implemented, it will play a positive role in overall revenue collection and expansion of the tax net.

In a press release issued on Monday, the DCCI welcomed the NBR initiative but simultaneously expressed concern that, in implementing the law, business entities that are already compliant in their tax management must not face unnecessary harassment.

It also urged the NBR to ensure fair treatment for business entities that have not yet achieved full compliance by giving them adequate time and opportunity to do so.

The chamber further said effective use of automation and digital systems in the country's overall revenue management is necessary to help the government meet its revenue collection targets and expand the tax net, which will significantly ease the unwanted suffering of the private sector.

It said it believes that revenue collection and a business-friendly environment are two goals that can be achieved simultaneously.

However, the DCCI stressed there is no alternative to continued constructive dialogue with NBR alongside joint efforts by the government and private sector to bring greater discipline to tax management across all classes of businesses, reports UNB.