, Aug. 26 -- Chairman of the National Board of Revenue (NBR) Md Abdur Rahman on Tuesday said the widespread use of tax exemptions is limiting the country's ability to raise its tax-to-GDP ratio.

"We offer tax holidays to local and foreign companies to boost employment. Although the waiver is meant for eight years, it often extends up to 40," he said while speaking at a seminar titled 'Corporate Tax and VAT Reform: A Critical Perspective for the NBR'.

Centre for Policy Dialogue (CPD), a think tank, organised the event at a city hotel.

The NBR chief warned that the failure to collect adequate taxes could affect development and spending of the government in different sectors.

Abdur Rahman said that tax and VAT returns will be easily avai...