Barua says many big companies evade tax
Dhaka, June 5 (UNB) – Industries Minister Dilip Barua on Tuesday said the country’s many big private companies evade tax and VAT despite making hefty profit, and thus help generate black money.
He urged the businesses, including the owner of big companies, to properly pay tax and help mobilise internal resources for expediting the development process.
“VAT and tax are the driving force of enriching internal resources…all should pay tax and VAT properly to expedite development,” he told a certificate distribution ceremony of a training workshop on Tax-VAT at Hotel Sonargaon in the city.
The SME Foundation arranged the function with Industries Secretary KH Masud Siddiqui in the chair.
Member of the National Board of Revenue (NBR) (VAT) M Farid Uddin, former NBR member M Shahab Uddin and SME Foundation Managing Director and Chief executive Officer Sayed Rezwanul Kabir, among others, spoke on the occasion.
Speaking on the occasion as the chief guest, Barua said the number of private companies is 1 lakh, of which 58000 companies have TIN (tax identification number). “Of them, 16,000 submit tax return but many of the companies show losses in their return.”
He said all should come out from the tax-evasion culture since the government has resource constraints.
The Industries Minister said the government is promoting the SME sector as it helps generate employments.
Barua said he has been favouring single-digit interest to see the desired industrialisation in the country.
A total of 80 small entrepreneurs from Dhaka, Mymensingh, Tangail, Khulna, Satkhira and Comilla took part in the training workshop, coordinated by former NBR member M Shahab Uddin.
He urged the businesses, including the owner of big companies, to properly pay tax and help mobilise internal resources for expediting the development process.
“VAT and tax are the driving force of enriching internal resources…all should pay tax and VAT properly to expedite development,” he told a certificate distribution ceremony of a training workshop on Tax-VAT at Hotel Sonargaon in the city.
The SME Foundation arranged the function with Industries Secretary KH Masud Siddiqui in the chair.
Member of the National Board of Revenue (NBR) (VAT) M Farid Uddin, former NBR member M Shahab Uddin and SME Foundation Managing Director and Chief executive Officer Sayed Rezwanul Kabir, among others, spoke on the occasion.
Speaking on the occasion as the chief guest, Barua said the number of private companies is 1 lakh, of which 58000 companies have TIN (tax identification number). “Of them, 16,000 submit tax return but many of the companies show losses in their return.”
He said all should come out from the tax-evasion culture since the government has resource constraints.
The Industries Minister said the government is promoting the SME sector as it helps generate employments.
Barua said he has been favouring single-digit interest to see the desired industrialisation in the country.
A total of 80 small entrepreneurs from Dhaka, Mymensingh, Tangail, Khulna, Satkhira and Comilla took part in the training workshop, coordinated by former NBR member M Shahab Uddin.
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