Staff Correspondent: Increasing the efficiency of the National Board of Revenue (NBR) is essential for the growth of businesses in the country says Finance Adviser Dr. Saleh uddin Ahmed.
At the same time, he has called for increasing the competitiveness of local businesses in light of the upcoming LDC graduation through maintaining labour and environmental compliances.
The Finance Adviser said this while speaking as the chief guest of a seminar on 'Reforms in Customs, Income Tax, and VAT Management to Address the LDC Graduation Challenges' held at the NEC Conference Room in the city's Sher-e-Bangla Nagar area on Monday.
Support to Sustainable Graduation Project (SSGP) of the Economic Relations Division (ERD) organized the event, said a press release.
Commerce Adviser Sk. Bashir Uddin and Chairman of the National Board of Revenue Md. Abdur Rahman Khan were present as special guests. ERD Secretary Md. Shahriar Kader Siddiky chaired the event.
The Finance Adviser, in his speech, also said that the private sector must be proactive alongside the government in meeting the LDC graduation challenges. He also emphasized on effective implementation of the recently finalized Smooth Transition Strategy (STS).
Commerce Adviser Sk. Bashir Uddin stressed on increasing the efficiency of the local businesses to face the potential challenges of LDC graduation.
At the same time, he also called for bringing the small and medium enterprises under the VAT net and introducing a uniform tax rate system. Chairman of the National Board of Revenue Md. Abdur Rahman Khan emphasized on reducing the tax expenditure. He also informed that the National Single Window would become fully operational by next March while the entire tax system would be automated very soon. ERD Secretary Md. Shahriar Kader Siddiky said that the government is committed to ensure effective and time-bound implementation of Smooth Transition Strategy (STS).
He also mentioned that a series of stakeholder consultations like this will be organized for successful implementation of the STS.
Chairman of Chattogram Port Authority Rear Admiral S M Moniruzzaman, Members of NBR AKM Badiul Alam, Senior Vice President of Dhaka Chamber of Commerce & Industry Razeev H Chowdhury; and President of Bangladesh Freight Forwarders Association Kabir Ahmed spoke at the event as panelists.

Members of NBR Hossain Ahmed and Mohammad Belal Hossain Chowdhury as well as the Vice Chairman of the Export Promotion Bureau (EPB) Md. Anwar Hossain were also present at the seminar.