Simeen Rahman, chief executive officer (CEO) of Transcom Group, has called for reducing advance income tax (AIT) on imported raw materials for the pharmaceutical sector from five per cent to three per cent.

She also stressed the need to widen the country’s tax net.

She made the remarks today, Thursday, at a roundtable discussion titled ‘Budget in Times of Crisis and Public Expectations’ organised by Prothom Alo at the Pan Pacific Sonargaon Dhaka.

Finance and Planning Minister Amir Khasru Mahmud Chowdhury attended the event as chief guest.

Speaking at the discussion, Simeen Rahman said the five per cent AIT deducted at the import stage is never refunded by the National Board of Revenue (NBR). “We are proposing that it be reduced to three per cent,” she said.

She added that, “Similarly, tax deducted at source (TDS) on institutional sales should also be reduced from five per cent to three per cent. This would ease the burden of unrealistic taxation on businesses.”