Tax lawyers for correction of finance bill ’11-12

Tax lawyers on Sunday demanded that the government should scrap some provisions of the finance bill 2011-2012 including the obligation of paying 25 to 50 per cent of the demandable tax before filing any case with the High Court over any dispute on the tax.

They also suggested that the government should not give the opportunity for procuring government Treasury Bonds with undisclosed money by paying 10 per cent tax rather it should limit the such money for investing in the industrial sectors.

Leaders of Bangladesh Tax Lawyers Association and Dhaka Taxes Bar Association expressed their reaction on the proposed Finance Bill 2011-12 at a joint press conference at Dhaka Reporters' Unity.

BTLA president Golam Sarwar said realising 50 per cent of demandable tax before the judgement would be inhuman and violation of justice. This would prohibit the petitioners from getting justice from the court.

Golam Sarwar said the opportunity of investing undisclosed in procuring Treasury Bonds would encourage the corrupt people in earning money illegally and legitimising it by paying less than the usual tax.

He said the money that was earned illegally should never be exempted from the criminal law.

The lawyers demanded restoration of the Taxes Appellate Tribunal under Section 11 of Income Tax Law that includes the representatives from accounting and judicial departments.

The BTLA president suggested that the government should increase income tax to 50 per cent from 30 per cent and reduce indirect taxes from 70 per cent to 50 per cent.

He said the policy taken by the National Board of Revenue for increasing indirect taxes would increase the pressure on the income of middle and lower income groups.

He also recommended that the government should expand the tax holiday facility up to 2015 instead of 2013 and include the shipbuilding sector in the list of the beneficiaries.

BTLA secretary general Kamrul Alam Chowdhury, Dhaka Taxes Bar Association president Ramiz Uddin Ahamed and general secretary Firoz Alam were present the press conference.

Source : New Age