Dhaka, May 19 -- Excessive dependence on indirect taxes is placing an additional financial burden on the public through inflationary pressure as well as discouraging investment growth, speakers at a discussion on Monday said.

Keeping this in view, they suggested bringing massive structural reform, digitisation of tax systems, reducing standard VAT rate, and imposing higher tax on luxury goods.

They made the observations at a discussion titled "Excessive Dependence on Indirect Taxes: Multifaceted Impacts on the Economy", organised by Voice for Reform at the BDBL Bhaban in the city's Karwan Bazar area.

Snehasish Barua, a partner of SMAC Advisory Services Ltd, presented a keynote paper, while Fahim Mashroor, Co-coordinator of Voice for Re...