National Board of Revenue (NBR) plans to extend the same facilities provided to garment exporters to other export-oriented sectors to promote export diversification, according to NBR Chairman Abu Hena Md Rahmatul Muneem. These facilities include reduced corporate tax rates and bonded warehouse privileges.
NBR aims to introduce tax return preparers (TRPs) to enhance tax filing processes and boost tax collection. The number of taxpayer identification number (TIN) holders and return submissions has significantly increased.
Additionally, NBR intends to reduce the VAT rate and suggests consumers collect invoices to prevent tax evasion. At a pre-budget dialogue with the Economic Reporters’ Forum (ERF), proposals were submitted for the upcoming budget, with ERF President Mohammad Refayet Ullah Mirdha and others in attendance.