Prime Minister Sheikh Hasina urges NBRK to increase revenue collection

Prime Minister Sheikh Hasina has asked the National Board of Revenue (NBR) to work more energetically to increase revenue collection from the domestic sector.

He said this in a message given on the occasion of 'Revenue Conference' on Sunday (February 5).

Russia-Ukraine

• The Prime Minister said that the ongoing conflict between Russia and Ukraine is having an adverse effect on the economy of Bangladesh as well as the global economy. Hope the National Board of Revenue will work more energetically to increase revenue collection from the domestic sector in this global economic context.

The NBR chairman also said that a total of three seminars on value added tax (VAT), customs and income tax will be held in the conference. There will be separate information centers on these issues during the conference. People can learn more about VAT, customs and income tax from these centers.

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Prime Minister

• He said that the government spends on the implementation of development programs and services with the money received from the revenue income. Therefore, the importance of NBR is immense in bringing dynamics in government expenditure and economic activities besides keeping the wheels of the economy moving by consolidating the internal revenue system. Bangladesh is soon going to be promoted from LDC (Least Developed Country) to Middle Income Country. In this context, NBR is working to increase internal revenue collection through modernization of revenue management and continues its earnest efforts to implement 'Target 17.2' as part of achieving Sustainable Development Goals by 2030.

In the press conference, NBR member Pradyut Kumar Sarkar said, "If tax concessions are gradually reduced, the tax rate in GDP will increase. Tax concessions have helped in the economic development of the country. We have benefited from this facility in the last two decades.

Pradyut Kumar also said, 'Our GDP is now 470 billion dollars. The government has given tax concessions in various sectors including agriculture, trade and other sectors. The government will give tax concessions in the sectors that need it.