The National Board of Revenue (NBR) Wednesday launched Alternative Dispute Resolution (ADR) for its income tax and VAT offices in the city to help both taxpayers and taxmen resolve disputes fast.

In the first phase, two Large Taxpayers Unit (LTU) under income tax and VAT wing, Dhaka south VAT office and income tax zone-1 came under the ADR for out-of-the-court settlement of tax-related disputes.

The NBR launched the ADR system with the support of International Finance Corporation (IFC), a wing of World Bank (WB).

Currently, a total of Tk 150 billion in revenue remains stuck up against 16,000 cases pending before courts.

Law, Justice and Parliamentary Affairs Minister Barrister Shafiq Ahmed inaugurated the ADR launching ceremony as chief guest in a city hotel.

NBR member (income tax) Syed Aminul Karim delivered the welcome speech and presented paper on ADR process for income tax. Md. Abdur Rouf, first secretary VAT, presented a paper on ADR process for VAT wing.

Shafiq Ahmed said both the parties should keep confidence in facilitators.

ADR should benefit both taxpayers and taxmen. It should not be imposed on anybody.

He suggested the NBR to amend the rules on the proportionate fees of the facilitators and fix a lump sum amount on the basis of the disputed amount.

International Chamber of Commerce, Bangladesh (ICC,B) President Mahbubur Rahman said foreign investors seek protection of their investment under the law of a country.

ADR can ensure protection of investment of both foreign and local investors, he said.

Financial Express/Bangladesh/ 15th March 2012