NBR forms taskforce to reform income tax law

The National Board of Revenue (NBR) has formed a taskforce to reform the income tax law in Bangladesh, with its main objective to make the rules people and business friendly.

The seven-member committee, headed by Tax Commissioner Ikhtiar Uddin Mohammad Mamun, will analyse income tax laws, related rules, and statutory regulatory orders before suggesting reforms.

The team will also examine the impact of enforcing certain provisions and regulations under the income tax law, according to a notice from the NBR at the end of September.

Besides, the panel is assigned to review the tax exemptions given by the NBR to various sectors and recommend reforms.

"We will hold meetings with internal and external stakeholders," said Md Mohidul Islam Chowdhury, a joint commissioner of taxes and a member of the taskforce.