First ever revenue conference to be held next month

Al Amin :
The National Board of Revenue (NBR) is going to arrange revenue conference 2023 for the first time in next month aiming at appraising the nation about its functions and strategies to face upcoming revenue earnings challenges.
The two-day long conference is scheduled to be held in the capital Bangabandhu International Conference Centre (BICC) on February 4, 5, creating a huge enthusiasm among the NBR officials.
The Prime Minister Sheikh Hasina is expected to inaugurate the planned conference by putting emphasise on becoming more efficient tax administration, the NBR official sources said.
In the conference, NBR Chairman Abu Hena Md Rahmatul Muneem will apprise the Prime Minister about the overall

situation of the revenue collection and upcoming challenges for it. Besides, three seminars on Income Tax, Value-Added Tax (VAT) and Customs will be arranged during the two day-long conference, the officials said.
They also said the conference will discuss the revenue earning action plans, strategies and impacts of the country’s LDC graduation as well as making the country a “Smart Bangladesh” by generating more revenues.
The ability to collect taxes is central to a country’s capacity to finance social services such as health and education, critical infrastructure such as electricity and roads, and other public goods as the low level of tax collection puts economic development at risk, they said.
Abdul Mannan Sikder, Member of the NBR, told The New Nation, “Prime Minister Sheikh Hasina will instruct the NBR officials in the conference to make the country a Smart Bangladesh.”
“The conference will also inspire and encourage the officials of the revenue board. Such conference should be arranged every year,” he added.
Besides, the conference is likely to discuss different issues like simplified the tax system and withdrawal exemptions as a simpler tax system with a limited number of rates is critical to fostering taxpayer compliance, NBR officials said.
On the other hand, curbing exemptions can reduce the tax system’s complexity while boosting revenue by broadening the tax base.
Dr Shahidul Islam, Member of the NBR, said that the PM will instruct the officials for introducing comprehensive tax administration reform as more holistic approach is required for successful revenue mobilisation.
“Bangladesh’s Tax-GDP ratio is very disappointing. So, we need to accelerate revenue collection at a huge rate by increasing the use of technology and manpower efficiency. The Prime Minister will instruct regarding this issue,” he said.
The conference will help us to build an efficient revenue administration in days to come, Shahidul said.
It would not be possible for Bangladesh to simultaneously keep providing a wide range of protections and adhere to the obligations of reducing benefits to local and export-oriented industries after LDC graduation. So, the country should take preparation from right now. A huge enthusiasm has been created among the NBR officials centring the conference.