Speakers for framing pandemic-focused budget in FY22
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DHAKA, May 4, 2021 (BSS) – Speakers at a webinar today stressed the need for framing a COVID-19 pandemic focused budget for the next fiscal year (FY22) putting highest priority to the health sector to mitigate the health related risks alongside focusing on sound macroeconomic management, widening social safety nets, raising the tax-GDP ratio and generating more employments.
The speakers also emphasized on strengthening the ongoing vaccination programme, carrying on necessary tax reforms as well as reducing the corporate tax rates, ensuring proper budget implementation and quality spending of development projects, addressing the livelihood issues in the context of pandemic, prioritizing the CMSMEs and bringing the education sector under the purview of the stimulus packages.
Automation could have boosted tax receipts: NBR Star Business Report Star Business Report
Automating the tax administration could have accelerated revenue collection while enabling work from home amidst the pandemic, averting many losses, including of opportunities, admitted a top official of the National Board of Revenue (NBR) yesterday.
At least eight NBR officials and staff, including a commissioner, have so far succumbed to Covid-19 while discharging duties and many taxpayers have suffered too, informed NBR Member (Tax Policy) Alamgir Hossain.
The NBR needs to have an IT-based organisational infrastructure, he told a virtual members conference titled Policy Paper on Direct and Indirect Tax organised by the Institute of Chartered Accountants of Bangladesh (ICAB).
âProduction of multiple financial statements of companies to be stoppedâ
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DHAKA, Dec 22, 2020 (BSS) – Chairman of Financial Reporting Council (FRC) Hamid Ullah Bhuiyan today said if the Document Verification System (DVS) becomes effective, the production of two or three types of financial statements will be stopped.
The FRC Chairman said this at an MoU signing ceremony today.
With a view to ensuring transparency and accountability and strengthening the monitoring and review system of the audited Financial Statements, the FRC under the Ministry of Finance, signed an MoU regarding the use of DVS, with the Institute of Chartered Accountants of Bangladesh (ICAB) at its Auditorium today.