Finance Minister AHM Mustafa Kamal said that the International Monetary Fund (IMF) lauded highly the achievements of Bangladesh terming them as “extraordinary”.
“A few weeks back, an IMF mission visited Bangladesh to see the position of Bangladesh on the economic front. Then they made such comments,” he said.
The Finance Minister said this while addressing a function marking the National VAT Day is held at a city hotel.
National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem presided over the function while its member Zakia Sultana presented the keynote paper.
Some nine highest VAT-paying companies and firms were given certificates this time at the function marking National VAT Day.
Speaking on the occasion, Kamal said whatever achievements Bangladesh has made so far are not only because of the sole efforts of the government but also for the association of all people of the country.
“I’m indebted to all the valued taxpayers in this regard.”
NBR Chairman Muneem said although Bangladesh would face some challenges in terms of revenue collection following the LDC graduation those could be dealt with successfully.
He noted that apart from manufacturing products having the potential for value addition, diversified products can also be manufactured to boost the export basket.
Side by side, the NBR Chairman said that revenue collection can also be enhanced through the expansion of trade, commerce, and industrialization.
“The NBR will extend necessary policy support in this regard,” he assured.
Muneem said that the capacity of revenue management is also being enhanced through automation so that esteemed taxpayers can avail such an environment to pay their taxes voluntarily.
Moreover, he informed me that the number of VAT offices is also being increased alongside increasing the number of skilled manpower.
Speaking on the occasion as the special guest, the president of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) Md Jashim Uddin urged the revenue board not to harass those taxpayers who pay taxes regularly.
He also suggested widening the tax net by reducing the tax rate.