Plea to include ICSB members as Income Tax Practitioners

Dhaka,  Mon,  25 September 2017
Published : 06 Aug 2017, 20:56:18
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Plea to include ICSB members as Income Tax Practitioners

FE Desk


Institute of Chartered Secretaries of Bangladesh (ICSB) organised a CPD seminar on 'National Budget 2017-18 and Finance Act, 2017' in the city Saturday.

M A Mannan, MP, State Minister of Finance and Planning graced the occasion as the Chief Guest while Barrister Jahangir Hossain, Member (VAT Policy)  and Parvez Iqbal, Member (Tax Policy), NBR  graced the occasion as Special Guests, said a statement.

The keynote paper was presented by Sadhan Chandra Das FCA, FCS, Partner, Sadhan Das & Co. Chartered Accountants. Mr. Mohammad Asad Ullah FCS, Chairman, Professional Development Sub- Committee, Immediate Past President and Council Member of ICSB presided over the seminar, delivered the address of welcome and summed up the session.   

Mr. Mohammad Sanaullah FCS, President of ICSB in his speech mentioned that since, the Members of ICSB are professionally fit to practice as Income Tax Practitioner (ITPs), the National Board of Revenue (NBR) should make necessary amendments to the Section 174(2) (e) of Income Tax Ordinance, 1984 and Rule 37 of Income Tax Rules, 1984.

He also mentioned that the Members of ICSB are professionally fit to practice as Mushak (VAT) Agents and necessary amendments should also be made to the Value Added Tax and Supplementary Duty Rules, 2016 so that the Chartered Secretary professionals could make significant contribution to the national economy.

Mr. Mohammad Asad Ullah FCS, Chairman, Professional Development Sub- Committee, Immediate Past President and Council Member of ICSB said that he would sincerely expect that the State Minister of Finance and Planning and Members of NBR will take necessary positive steps to include ICSB members and profession as ITP and Mushak Agent in the Income Tax Ordinance and VAT law by issuing necessary SRO(s).

He also urged upon the NBR to reduce the highest ceiling of individual tax rate from 30 per cent to 25 per cent and exempt the surcharge on the individual assets.

For achieving the target Tax and VAT fixed by the Govt. NBR should undertake all effective measures to extend its Tax and VAT net and bring minimum 10 per cent of the total population under Tax and VAT net by 2041.

The Chief Guest Mr. M A Mannan, MP appreciated the profession of Chartered Secretaries who are working to ensure good governance in corporate sector and assured that he will take all out measures to include the profession of Chartered Secretary as Income Tax Practitioner (ITP) and Mushak Agent who can provide services to their clients professionally.

Special Guest Barrister Jahangir Hossain Member (VAT Policy) also assured to look into the issue positively. Mr. Parvez Iqbal Member (Tax Policy), NBR assured to take all-out efforts to include the profession of Chartered Secretary as ITP.

A large number of professionals, Qualified Chartered Secretaries and corporate executives from the leading corporate houses of Bangladesh attended the programme.
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