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Salman F Rahman : If the policy is not changed, the tax-GDP ratio will fall further

Private Industry and Investment Adviser to Hon’ble Prime Minister Salman F Rahmanfile photo.

Salman F Rahman, Adviser on Private Industry and Investment to the Honorable Prime Minister, said that if the National Board of Revenue (NBR) does not change the current policy of tax collection, the tax-GDP ratio in the country will not increase, on the contrary, it will decrease. Income tax, customs and VAT department should be speeded up to increase revenue.

The Prime Minister’s advisor said these things in an event titled ‘Investment Climate for Smart Bangladesh’ at a hotel in Gulshan of the capital on Sunday.

Salman F. Rahman said, NBR tries, how to levy more tax on those who pay tax. But those who are outside the tax net, stay outside. NBR has no initiative to bring these people under the tax net.

Salman F Rahman complained, “There is no coordination between different departments of NBR.” There is a situation where people working in VAT department, Income Tax department and Customs department cannot talk to each other; There is no “connectivity” between them. If major reforms are not brought in there, our tax-GDP ratio will not improve.”

Salman F. Rahman also said that the tax-GDP ratio has further declined—from 8 percent to 7.8 percent. Now if NBR does not change the method of tax collection, change their mentality and policy, then the tax-GDP ratio will fall below 7.8 percent in the next financial year.