2024-09-14 19:31:29
Debt burden is increasing day by day, government expenditure and other expenditure needs money. Therefore, Finance and Trade Adviser Salehuddin Ahmed urged to reduce wastage.
He made such a call at a seminar organized by the Bangladesh Civil Service (Taxation) Association at NBR’s Multipurpose Hall at Agargaon in the capital on Saturday (September 14).
The seminar discussed the changes brought about by the ‘Finance Act, 2024’ in the field of direct taxes.
Salehuddin Ahmed said that the government of Bangladesh needs money at the moment. Money is needed to meet government expenditure and other expenses. The government should not waste any money.
He said that the revenue target will not be reduced. We have a deficit budget. A large part has to be brought in as a loan from outside. Debt burden is increasing day by day. We will try to raise our own funds. But it is true that it will not be in our own money, we have to bring money from outside. But we must be careful not to be optimistic.
He said that the interim government is aware of the danger of being far-sighted and said, “If your hand is in my pocket, if I go to the right, you will also go.” If I leave, you will also leave. But I am realizing that. We don’t want to be dependent on them.
Projects are not taken up based on field demand. As a result of this, the money is wasted, he said, that the project should come on the basis of what is needed.
Abdur Rahman Khan, the chairman of the institution, said, “We are not able to collect enough revenue after announcing that the laws of NBR are business-friendly.” We are running a deficit budget. Imposing more and more debt on the next generation. Taxpayers don’t want to see their tax payments go to waste.
He also said that every year we give a large amount of tax exemption. Every year we give a tax deduction of 3.5 lakh rupees. If it is fixed in large part, the tax collection will increase. We want to apply tax laws correctly.
Requesting everyone to return online, Abdur Rahman said, your acquaintances should also return online. We need to make our laws business friendly. In 2012, we enacted the Musak Act, but it has not had an English version in 12 years. So how can foreign investors prepare?