While it is encouraging to see the National Board of Revenue (NBR) post a 14.26% year-on-year increase in revenue collection for July-November of FY24, the fact that they fell short of their target by Tk16,000 crore raises an all-too-familiar issue of setting realistic goals as far as tax revenue goes.
The need thus for a pragmatic approach to tax revenue is more pressing than ever. The current tax system has repeatedly fallen short of its revenue targets, leaving a void every year that ultimately hampers the nation's progress.
One critical aspect of this transformation involves holding powerful entities accountable for their tax obligations. It is imperative that we bridge the gap between policy rhetoric and effective implementation, ensuring that influential corporations and individuals are not permitted to manipulate the system.
It is about time we saw some stringent measures in place to curb the tax evasion that powerful and connected individuals and corporations get away with and ensure that every entity contributes its fair share to the nation's development.
Simultaneously, there is an urgent need to shift the focus from burdening the common taxpayer; while the pursuit of tax revenue is vital for economic stability, it is equally essential to recognize the disproportionate burden on the common taxpayer.
A culture of harassment has become the defining trait of tax revenue collection and the authorities concerned would do well to shift their focus on providing support and guidance to ensure compliance. This shift in approach will not only encourage voluntary adherence to tax obligations but also foster a positive tax culture that views taxation as a collective investment in the nation's future.
Bangladesh's tax policies and practices have long been issues that have, instead of assisting the nation and its people, only resulted in frustration and mistrust. By setting realistic expectations, holding powerful entities accountable, and fostering a culture of responsible taxation, Bangladesh can pave the way for a fair and sustainable fiscal future.
Sunday, July 19, 2026
