At 7.3 per cent, the ratio is quite low for Bangladesh compared to India’s 12 per cent, Nepal’s 17.5 per cent, Bhutan’s 12.3p per cent and Pakistan’s 7.5 per cent, and therefore, tax collection needs to be enhanced, he said during his first meeting with senior NBR officials.
He lamented that the revenue collection target for NBR was very high in the budget, and was not done professionally, according to a domestic news agency.
Hence the government has been formulating a deficit budget for a long time, he said.
It receiving 67 per cent of its revenue from indirect tax, and therefore, direct tax collection needs to be raised, he said.
A mere 5.2 per cent of the total population in Bangladesh is under the tax net, while the figure is 23.08 per cent in India, he added.
ALCHEMPro News Desk (DS)
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