The ICAB thanked finance minister AHM Mustafa Kamal for accepting almost all of their proposals on the institution on supplementary duty, tax and Value Added Tax (VAT) related issues.

Separate policy and regulation for start-up business will attract the generation to start innovative business, said ICAB.

The ICAB leaders also said changing revenue policy for some sectors will encourage export diversification, which is needed to increase Bangladesh’s export volume.

“Input Tax Credit on Business Services Proposal to reduce fines from 100 per cent to 50 per cent and maximum 100 per cent, to perform operations electronically in a bonded warehouse - These topics are up-to-date and business friendly,” said ICAB in the budget reaction.

ICAB president Md Shahadat Hossain FCA, ex-president Md Humayun Kabir FCA and CEO Shubhasish Bose spoke at the function.

NKA Mobin FCA, Sabbir Ahmed FCA, Md Abdul Kader Joarddar FCA, Snehasish Barua FCA, Mahbub Ahmed Siddique FCA, among others, were present.

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