DCCI president calls for holistic push to expand digital accounting among SMEs

DCCI President Taskeen Ahmed has called for a ‘holistic approach’ to bring small and medium enterprises (SMEs) into the digital accounting and tax compliance system, saying both the government and private sector need to change their mindset to ensure greater transparency and sustainable economic growth.

Speaking at a pre-budget roundtable organised jointly by ICAB and The Financial Express on Thursday, he stated that Bangladesh is at a critical stage of its economic transition ahead of LDC graduation and needs coordinated efforts from the public and private sectors, as well as accounting professionals.

Taskeen said many businesses, including large ones, still tend to avoid full tax compliance due to fears of harassment and increased charges if financial information is fully disclosed.

“For small businesses, survival remains the main priority. When they are told they need to buy software, arrange training and renew systems every year, many resist the change,” he said.

He noted that although digital accounting would eventually make business operations easier and more transparent, many entrepreneurs are reluctant to adopt it due to costs and lack of awareness.

The DCCI president urged the government to introduce short-term incentives, including free training programmes and support for digital accounting adoption over the next two to three years.

He said business associations and chambers are ready to work together with the Institute of Chartered Accountants of Bangladesh (ICAB) to encourage SMEs to adopt digital systems.

Taskeen also stressed the need for major policy reforms to simplify tax compliance for SMEs and bring more businesses into the formal economy through step-by-step integration into digital transactions.

Highlighting revenue imbalance, he said Dhaka and Chattogram together generate around 87 per cent of the country’s revenue, while the remaining 62 districts contribute only 13 per cent.

“To reduce this disparity, rules need to be made easier. We are not asking for everything to be relaxed, but reforms should be implemented gradually,” he added.