NBR chairman says new income tax law has loopholes, needs fine-tuning
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National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem on Thursday acknowledged the existence of certain loopholes in the recently enacted Income Tax Law 2023.
He said that initiatives are being taken to address the faults of the law for the greater interest of people.
“After consulting with relevant stakeholders, the new tax law was enacted. However, despite our efforts, some loopholes may have been overlooked. The emphasis is now on fine-tuning the new tax law," stated Chairman Muneem. The Income Tax Act 2023 was passed in the parliament on June 18.
The NBR chairman came up with the remarks during a seminar titled "New Income Tax Law and Tax Compliance: Changed Context," organised by the NBR at its auditorium in the capital today.
Attorney General AM Amin Uddin was the chief guest at the seminar.
NBR Member (Tax Policy) Dr Shams Uddin Ahmed presented a keynote paper at the event. Deputy Attorney General Samarendra Nath Biswas, NBR member Masud Sadiq, and Syed Mohammad Abu Daud also attended the seminar.