The New Nation - Internet Edition

Our Correspondent, Barisal

National Board of Revenue Chairman Abdul Mazid has called for lessening dependence on foreign aid and boost international resources for development of the country.

Mazid made the call while addressing a views exchange meeting at the local Circuit House with the business leaders and officials on Sunday.

He said Bangladesh has taken huge foreign assistance at low interest rates, but failure to repay those within the stipulated time has become a over burden for the nation as the loan money grew with compound interest, the NBR chairman pointed out.

"Time has come to reduce dependence on foreign aid and increase fund locally paying income tax and other taxes regularly," Mazid said.

He quoted a NBR survey as saying that the country has over 15 million people eligible to pay income tax, but less than 20 percent of them shell out their taxes.

Mazid said the payment system has been simplified and the rate of taxes lowered. Still 93,000 people submitted their return this year and the rest are attempting to evade payment of taxes, but it will be very difficult for them to dodge, Mazid warned.

He said the NBR will find them out and go for legal actions against them

The meeting with Nurul Islam, Khulna Customs Commissioner in the chair, was addressed, among others, by Sheikh Abdur Rahim, President of Barisal Chamber of Commerce and Industry (BCCI), Abdur Razzak, former vice-president of BCCI, Moniruzzaman Talukder, a business leader.