Rewarding tax evasion to officials is a misuse of the law

Mahbubul Alam, president of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex organization of businessmen, said that the law is being misused by giving rewards to officials to find out tax evasion. He said, in order to reduce the power of government officials, we are demanding alternative incentive system by canceling the reward system.

He said this at a press conference organized on Saturday (June 8) on the proposed budget 2024-25. At this time, Metropolitan Chamber of Commerce and Industry (MCCI) President Kamran T Rahman, Dhaka Chamber President Ashraf Ahmed and members of the Board of Directors of FBCCI and businessmen were present.

The FBCCI president said that officials are given rewards for uncovering tax evasion. This leads to misuse of the law. We proposed to abolish the reward system and provide alternative incentives to reduce the discretionary power of government officials. But it was not reflected in the budget.

He said, I am requesting to reconsider the matter. At the same time, appointment of Tax Ombudsman may be considered along with implementation of ADR system to ensure justice and disposal of revenue related cases. We called for making the Tax Appellate Tribunal impartial and independent and appointing a member of the Judiciary to be the President of the Tribunal. At present, provision is made to make a member of the National Board of Revenue the President. I call for reconsideration of this proposal.

He also said that it is not possible to continue the trend of economic development without proper investment and industrial development. It is important to maintain consistency in fiscal policy. Through this, investors can continue trading with confidence. That’s why I think it is important to keep harmony between monetary policy and fiscal policy.