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NBR begins pre-budget discussions


Published : 01 Mar 2021 09:24 PM | Updated : 02 Mar 2021 12:41 AM

A pre-budget discussion of the National Board of Revenue (NBR) was held on Monday in which NBR is set to exchange views with the representatives of 30 sectors and sub-sectors on tariffs, VAT and taxes in the national budget for the fiscal year 2021-22. 

Representatives of sector-based organizations will take part in the discussion organized by the NBR. The board has announced the schedule on Sunday.

On Monday the meeting began with exchange of views with representatives of the Bangladesh Ceramic Manufacturers and Exporters Association. The meeting was held at the NBR conference room at Segunbagicha from 3:30 pm to 4:30 pm on the same day. 

There will also be an views exchange meeting in all the divisional cities. NBR chairman Abu Hena Rahmatul Muneem is scheduled to preside at all meetings.

The discussion will end on Thursday, April 1, with the Rajshahi Chamber of Commerce and Industries and all the District Chambers of the Rajshahi Division. After that, a meeting of the Advisory Committee of the National Board of Revenue and FBCCI will be held at the time fixed by the Finance Minister.

Meanwhile, the Board of Revenue has requested various chambers and associations to send their respective budget proposals in writing to the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) by March 3 to assist in the preparation of the budget. 

At the same time, another soft copy of the proposal was sent via e-mail to Golam Kabir, NBR's Chief Budget Coordinator and First Secretary (Tax Appeal and Exemption).

The finance minister has given a budget of Tk 5 lakh 6 thousand crore in the current financial year, which is currently being implemented. The Ministry of Finance has started work on the preparation of the national budget for the fiscal year 2021-22 for the second time in the midst of the global pandemic. 

It is learned that there are a number of priority sectors to be tackled in the next budget as well. Besides, the amount in the budget has been increased by Tk 24,575 crore to Tk 5,92,565 crore. In this case, the deficit is 5.6 percent of GDP. In the next financial year, the growth of GDP is expected to be 7.8 percent. The government wants to keep the inflation rate at 5.3 percent.