The revenue collection will be very challenging if the political unrest is sustained in the coming months of this year, National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem said today.
Revenue collection in Bangladesh grew 14.3 percent year-on-year in the first quarter of the current fiscal year although the pace was slower owing to a decline in imports, official figures showed yesterday.
The government’s dependence on borrowing to finance national budgets has increased over the past decade as revenue collection has failed to keep pace with the ballooning public expenditure.
Tax collection by the National Board of Revenue (NBR) shot up in May, powered by buoyancy in value added tax (VAT) collection from domestic economic activities and increased income tax receipts, according to a provisional estimate.
Self-contradictory is what best describes Finance Minister AHM Mustafa Kamal’s fifth budget, and the last of the Awami League-led government’s current term.
While the government is distracted by elections, the financial economy will suffer
Newly disclosed CAG report says it dodged payment of over Tk 2,200 crore to the exchequer
Bangladesh needs proper macroeconomic management to avoid middle income trap
Bank accounts with upwards of Tk 1 crore in balance are set to face a higher excise duty next fiscal year as the government looks to collect more taxes from the relatively well-off to get close to the lofty revenue collection target.