If there has been one area where, year after year, regardless of the administration, Bangladesh has fallen well short of targets and expectations, then that is our revenue collection
The current fiscal year is no different to the past 12 years; revenue collection despite reforms and changes have remained stagnant and overall receipts have once again fallen far short of expectations.
It is with that thought that we must ask again: Can we ever see the relevant authorities set realistic revenue targets so that they can finally be met?
While there is international pressure to increase our revenue, it is a shame that, instead of identifying areas where we can improve revenue collection and actively working towards achieving those goals, we remain stuck on what can only be described as foolish optimism at this stage.
While there is no doubt that there are reforms underway, many of which have been enacted to finally get the nation out of lethargic revenue collection, it remains to be seen whether their effects will be reflected in the next fiscal year. With economic challenges not abating any time soon, unrealistic revenue projections do not help us in any way.
Our reality is that we have one of the lowest tax-to-GDP ratios in the world, and the National Board of Revenue has persistently failed at its job. Not only that, but our tax culture has been broken for a while, hounding everyday citizens and harassing them for miniscule amounts while wealthier individuals and entities have enjoyed impunity by oftentimes paying nothing.
The interim government deserves plenty of credit for attempting to change the broken culture across our institutions and sectors. Setting realistic goals and expectations, not just for revenue collection but for any major plans or projects, should also follow suit.
