Achieving revenue target will be a challenge

There will be challenges in achieving the revenue target set for the upcoming fiscal year, said Snehasish Barua, a chartered accountant.

He made the comments at a programme hosted by Snehasish Mahmud & Co, a chartered accountancy firm, at the Sheraton Dhaka on Sunday, according to a press release.

Barua, a founding partner at the firm, delivered a comprehensive technical presentation, focusing on the overview of the proposed budget and changes introduced through the Finance Bill, 2024.

He discussed possible challenges in achieving the revenue target and the implication of proposed changes in taxation law on individuals and businesses.

Highlighting the business-friendly changes and area of caution for taxpayers, he also presented an analysis of effective tax rates across different industries.

Zareen Mahmud Hosein, a partner of the firm, made the introductory remarks, welcoming participants and laying the foundation for the session ahead.

The firm also gave a reception to its three newly-qualified chartered accountants -- Badhan Das, Md Ameerul Islam, and Ahmed Zabir.

Zaved Akhtar, president of the Foreign Investors' Chamber of Commerce and Industry in Bangladesh, Iqtiaruddin Md Mamun, director general of BCS Tax Academy, and Md Abdur Rouf, director general of VAT Audit, Intelligence & Investigation, also took part.

Akhtar commented on the importance of increasing the tax-to-GDP ratio and reducing the gap between the effective tax rate and corporate tax rate.

Mamun addressed the importance of confidence and trust between businesspersons and government officials engaged in collecting revenue.

Sukanta Bhattacharjee, a partner at the firm, was also present.