Business Report :
National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan on Saturday emphasized on ensuring ‘value for money’ of the taxes being paid by the country’s esteemed taxpayers alongside rendering due services to them in a prompt manner.
“The taxpayers want to become assured that their ‘value for money’ is ensured and there is no wastage of funds. Many say that we’re not being able to do that properly as there are wastages and improper utilization to some extent…The taxpayers often become irritated. We’ll keep vigil so that they get their desired services in time,” he said.
The NBR chairman was addressing a discussion on the changes brought in direct taxation through the Finance Act, 2024 at the Multipurpose Hall of the National Board of Revenue (NBR) in the capital’s Agargaon area today.
Adviser to the interim government on the Ministries of Finance and Commerce Dr Salehuddin Ahmed spoke on the occasion as the chief guest.
President of Bangladesh Civil Service (Taxation) Association M Lutful Azim presided over the discussion while its Secretary General Sheikh Shamim Bulbul delivered the welcome address.
NBR’s Tax Policy member AKM Badiul Alam and Tax Admin and Human Resource Management member GM Abul Kalam Kaikobad also spoke.
Referring to the criticism of many over the country’s tax regime over the last five years, Khan said many alleged that during that period, the NBR could not collect enough revenues. As a result, the government debts are being increased thus creating a burden on the next generation, he opined.
He said the country’s people wanted to know whether the revenues being deposited in the national exchequer are used properly. “I think we’re seeing the change of that trend… So, we’ll remain more cautious regarding our expenditures,” he said.
Khan, also the secretary of the internal resources division, put emphasis on paying all concentration by the revenue officials to their respective works.
“We’ve to attain functional competence as this is very important,” he continued.
The NBR chairman asked its officials to facilitate the private entrepreneurs.
“You’ve to look after these taxpayers so that they can grow,” he added.
He also put emphasis on not putting pressure on the taxpayers during revenue collection. “Rather, we’ll comply with our laws, rules and regulations properly,” he said.
The NBR chairman mentioned that there will be a need for major reforms in the tax collection related laws. He said these reforms would be done in two fronts.
He said one is to contain the huge tax expenditures while the other one is that to cover such tax expenditure, the revenue board usually puts extra burden on the taxpayers and that should be addressed.
“If we go for the second one, then we’ll lose a huge amount of revenue,” he said.
Md Abdur Rahman Khan also opted for stopping the unnecessary tax cut to overcome that revenue loss.
In new Bangladesh, which has been awarded by the students and mass people through the recent student-led mass uprising and revolution, gave all a rare chance to write the “New History of Bangladesh”, he said.
“So, we’ve to forget completely what we’ve done in the past, we’ll properly do what we need to do,” the NBR chairman added.
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