Some misses in budget

AF Nesaruddin, partner of Hoda Vasi Chowdhury & Co, shares his views on the budget with The Daily Star. The following is what he thought the budget missed.
The corporate tax rate has not been reduced. A low corporate tax rate is an incentive for foreign direct investment and helps reduce tax evasion. Corporate tax in Bangladesh is apparently high if compared with neighbouring countries and similar economies.
No major avenues have been identified to widen the tax base. There appears to be no measure to improve the tax-GDP ratio.
The presumptive tax for the transport sector is not justifiable and causes a lot of tax leaks, setting back tax collection. Transport should come under the normal tax system. The renewal of route permits should be subject to payment of normal tax.
Additional tax over the tax collected under 82C as final settlement has remained unchanged. Charging additional tax is contradictory and against the basic principle of “final settlement”.
Certain emerging and employment-generating industries like tourism are still out of tax holiday or reduced tax.
No steps appear to have been taken to reduce the discretionary powers of assessing officers and as a result, corruption by assessing officers and hassle for taxpayers will remain. No steps were also taken against enforcement of arbitrary and unlawful assessment orders and tax demands.
The audit system for universal self-assessment returns is still not scientific and transparent. In majority cases, taxpayers are being harassed for arbitrary assessments and decisions.
Appointment of 'judicial member' in each bench of the tribunal has not been considered and tribunals are mostly run by departmental officers losing its independent and neutral character.