The pace of revenue collections quickened in January, driven by increased receipts from income tax as the deadline for filing personal income and wealth statements for the current fiscal year ended last month.
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
Wishy-washy -- is what best describes the government’s stance on scaling up its narrow revenue base, which is posing to become the Achilles’ heel to Bangladesh’s growth aspirations.
It is hardly surprising that a premier think tank in the country has once again calculated that the government in all probability will miss its tax collection target.