Staff Reporter :
The Bangladesh Nationalist Party (BNP) has called on the interim government to prioritise increasing direct taxes rather than raising indirect taxes.
The party has also demanded the withdrawal of the “imprudent” decision to impose value-added tax (VAT) and supplementary duties on over a hundred products, citing the resulting public hardship.
Indirect taxes affect people across all income groups equally and impose an additional burden on lower-income populations, BNP Secretary General Mirza Fakhrul Islam Alamgir said at a press conference on Saturday.
“We urge the government to prioritise the public’s needs when formulating policies. Given the current economic realities of the country, there are alternative ways to increase revenue, and there is scope for action accordingly,” Fakhrul stated.
At the press conference, the BNP presented several proposals to address the country’s economic challenges including expanding the tax base.
It said, the government should take effective measures to ensure that Tax Identification Number (TIN) holders file returns, thereby improving tax collection efficiency.
Regarding the Preventing of Tax Evasion, it recommends bringing all taxable income under the tax net would enhance transparency and help prevent evasion, contributing to economic stability and increased revenue. BNP urged for Utilising Seized Assets.
It said the government could lawfully utilise seized or frozen assets of corrupt individuals and identify unused and surplus funds within government sectors for effective financial management.
However, about recovering misappropriated funds, the party propsed a focused effort needed to recover black money, looted funds from banks, and non-performing loans.
According to the government’s white paper, an estimated $234 billion has been lost due to corruption and misappropriation.
BNP recommended negotiating with the IMF.
It said the government could engage with the IMF to ease stringent conditions tied to its loan programme, which have been linked to the imposition of new taxes.
Addressing tax exemptions, BNP said during the previous administration, powerful individuals and institutions were unjustly granted tax exemptions, enabling tax evasion.
The interim government should close these loopholes and focus on increasing direct taxes. Focusing on Reforming revenue collection, the party said, the current structure of the National Board of Revenue (NBR) has hindered internal revenue growth.
Over the past 15 years, indirect taxes have disproportionately burdened the general public, while wealthier individuals contributed less in income taxes, exacerbating economic inequality.
BNP prioritising agriculture said, greater emphasis must be placed on agriculture, including maximising land use for daily agricultural production, particularly vegetable farming.
