Dhaka, March 20 -- National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan on Thursday announced that the government is focused on establishing a tax framework that eliminates discrimination, promotes business development, and ensures equal application across all sectors.
"We have to get rid of the culture of tax exemption. It causes misuse and creates holes in the system," he said while speaking at a pre-budget meeting at the conference room of the Revenue Building.
The current Value Added Tax (VAT) system is not near the actual spirit of the VAT system, he said.
"It should be an accounting-based system. If we pay VAT by calculating input and output, for some specific sectors it would be only 0.5 per cent, effectively making it 2-...