Bangladesh’s Metropolitan Chamber of Commerce and Industry (MCCI) recently urged the government to extend the validity of all trade licences by at least five years to reduce the hardships faced during annual renewal of these certifications that involves considerable time and effort, and according to MCCI president Mohammad Saiful Islam, affects the ease of doing business.The demand came at a discussion on ‘Issuance or renewal of licences for five years’ organised by the MCCI in Dhaka.
Terming the proposal quite logical, chief guest Sheikh Fazle Noor Taposh, mayor of the Dhaka South City Corporation (DSCC), said DSCC is ready to issue multiple-year trade licences as long as other relevant regulatory bodies permit.
Bangladesh's Metropolitan Chamber of Commerce and Industry (MCCI) has called for extending the validity of all trade licences by at least five years to reduce the hardships faced during annual renewal of these certifications that involves considerable time and effort, and according to MCCI president Mohammad Saiful Islam, affects the ease of doing business.
"We can extend it to five years but the National Board of Revenue needs to agree as well as it plays a crucial role in collecting value added tax and advance income tax on the licences each year," Taposh was quoted as saying by Bangla media reports.
Fibre2Fashion News Desk (DS)