The parliamentary standing committee on the ministry of finance has recommended taking steps to expand the area of Value Added Tax and recover the arrears revenue to offset the revenue deficit to be created following the non-enforcement of VAT and Supplementary Duty Act, 2012.
The committee in its 20th meeting on Sunday also discussed misinterpretation about the deposit of money by Bangladeshis in Swiss banks in the media and recommended taking steps to highlight fact about it in the media.
The meeting was informed that the board of directors of AB Bank was given strong warning through Bangladesh Bank for irregularities in transferring money abroad by its offshore banking unit.
It also recommended taking steps to recover the transferred money and carry out an investigation by the Central Intelligence Unit of the National Board of Revenue and inform the committee about it.
Committee chairman Md Abdur Razzak presided over the meeting and it was attended, among others, by Md Abdul Wadud, Nazmul Hasan, Farhad Hossain, Mostafizur Rahman Chowdhury, Md Shawkat Chowdhury and Akhter Jahan.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Tax