Dhaka, Aug. 26 -- Centre for policy dialogue (CPD) today urged the National Board of Revenue (NBR) to establish an expert committee comprising tax professionals, chartered accountants, and business representatives to regularly review and update the list of allowable deductions, expenditure caps, and definitions related totaxable income.

The private think tank mentioned that firms usually report their accounting profit in financial statements and taxes are assessed based on taxable profit, which is calculated differently.

CPD observed that due to the presence of advanced tax, minimum tax, incentives, exemptions, and deductions, differences in accounting and taxable profit, a firm's effective tax rate can differ from the stipulated corpor...