A delegation of The Institute of Chartered Accountants of Bangladesh (ICAB) led by its current President Mr. Mohammed Forkan Uddin FCA paid a courtesy call on newly appointed Secretary, Internal Resources Division (IRD), Ministry of Finance, GoB and Ex-Officio Chairman, National Board of Revenue (NBR) Mr. Md. Abdur Rahman Khan FCMA on 8 September 2024 Sunday at the latter’s office, Agargaon, Dhaka.
The other members of the ICAB delegation were Mr. MBM Lutful Hadee FCA, Vice President (Education & Examinations), Ms. Maria Howlader FCA, Vice President (Operations & Members’ Services), Council Member and Immediate Past President Mr. Md. Moniruzzaman FCA and Mr. Shubhashish Bose, Chief Executive Officer.
During the call-on, ICAB Delegation congratulated Mr. Md. Abdur Rahman Khan FCMA on his taking over the charge of the office of the NBR Chairman. As a gesture of good-will, the President of the ICAB presented a souvenir to him.
The delegation exchanged views on how to collaborate each other, as NBR is very relevant to the ICAB in the context of policy formulation. They drew the attention of the NBR Chairman to the imposition of tax upon the professional accountancy bodies including the Institute of Chartered Accountants of Bangladesh (ICAB) through the enactment of Finance Act 2024 which amended the Para 28 of the First Part of the 6th Schedule of Income Tax Act 2023. They appealed to reconsider the issue as professional accountancy bodies are not functioning for profit rather to ensure welfare to the members of the body. They also requested to include donation at the ICAB scholarship foundation as CSR activities.
The delegation sought cooperation from NBR Chairman to strengthen and improve the accounting and auditing profession. They wished him all-out success in NBR.
In response, Mr. Md. Abdur Rahman Khan FCMA lauded the role of ICAB, especially for introduction of the Document Verification System (DVS). He opined that DVS is very important for the economy. Emphasizing on strengthening the auditing process, the Chairman also asked for recommendations, suggestions, and proposals from the ICAB regarding reform in Income Tax Law for the betterment of the economy. He positively responded to the proposal of ICAB inviting him as the special guest at the 24th ICAB National Award for Best Presented Annual Reports 2023, Integrated Reporting and Corporate Governance Disclosures scheduled to be held on 10 September 2024. He also assured ICAB delegates of full cooperation from NBR to the institute in the coming days.