The next budget will be vital for the nation as it will take the country from the sixth five-year plan to the next one, National Board of Revenue Chairman Md Nojibur Rahman said at a pre-budget meeting yesterday.

“We will go for the new global paradigm of sustainable development goals from millennium development goals.”

“The next 25 years are important for us, as in the next five years, we would strengthen our position as a middle income country and in the next twenty years, we would become a happy and rich nation,” he said.

Chittagong Chamber of Commerce and Industry (CCCI) organised the discussion at World Trade Centre in Agrabad. CCCI President Mahbubul Alam presided over the meeting.

The Chittagong chamber has proposed to increase the income tax exemption limit from Tk 2.5 lakh to Tk 2.78 lakh for women, from Tk 3 lakh to Tk 3.5 lakh for the elderly, from Tk 3.75 lakh to Tk 4.25 lakh for the physically challenged, and from Tk 4.25 lakh to Tk 4.5 lakh for freedom fighters.

The chamber also urged the government to impose VAT after discussing with traders, and fix the tax rates considering the rates in neighbouring countries.

“Honest traders and businesspeople will always get help from us,” Rahman said.

A total of 198 proposals regarding tariff, VAT and income tax have been submitted to the NBR chairman, said Alam.

CCCI Senior Vice-President Md Nurun Newaz Selim also spoke.

Later, the NBR chairman joined another pre-budget meeting with the leaders of Chittagong Metropolitan Chamber of Commerce and Industry.