The Dhaka Chamber of Commerce & Industry (DCCI) organized a workshop titled “Income Tax Act 2023: Corporate Tax Challenges and Opportunities” at its headquarters in the capital city. The event, attended by around 60 participants from diverse corporate entities, aimed to enhance awareness among tax professionals regarding the new tax regulations.
DCCI President Ashraf Ahmed addressed the workshop, expressing concern about the relatively low number of taxpayers in Bangladesh. He emphasized that a country with a population of 170 million should ideally have a higher taxpayer base than the current four million.
The workshop focused on familiarizing participants with the intricacies of the Corporate Tax system outlined in the recently enacted “Income Tax Act 2023.” President Ashraf suggested that automating the taxation system could streamline processes, remove obstacles, and ultimately boost tax revenues.
Snehasish Barua, Advisor to the Standing Committee on Customs, VAT, Taxation & NBR Related Issues of DCCI, presented the keynote paper. Wakil Ahmed, Joint Commissioner of Taxes, Tax Zone-15, Dhaka, highlighted the increasing trend of taxpayers utilizing the e-TIN service, with over 4 lakh taxpayers in 2023 compared to 2,50,000 the previous year.
Murad Ahmed, Joint Commissioner of Taxes, Taxes Zone-4, Dhaka, encouraged the business community to utilize e-TDS services. Bapan Chandra Das, Second Secretary of Tax Education, Advertisement, and Tax Legal at NBR, also shared insights during the workshop, which was attended by members of the Board of Directors of DCCI.