In order to increase the national revenue, the interim government has set a target of collecting 6 lakh 15 thousand 500 crores and 6 lakh 95 thousand 100 crores respectively in the next two financial years. In the next financial year 2025-26, 5 lakh 53 thousand 300 crores will come from NBR, which is 15.2 percent more than the previous year.
Officials associated with the plan said that another 62,500 crore rupees will come from other sources, which is 5.5 percent more than the previous year. 6 lakh 31 thousand 100 crores will be collected from NBR in the financial year 2026-27; Which is 14.1 percent more than the previous year. At the same time, Tk. 6 lakh 4000 crore will come from other sources, which is 5.3 percent more than the previous year.
The revenue target for the current fiscal year 2024-25 has been set at Tk.5 lakh 41 thousand crores. Out of this, Tk. 4 lakh 80 thousand crore is expected to be collected through the National Board of Revenue and Tk.61 thousand crore from other sources. According to a document of the Finance Ministry, the government has taken various reform measures to achieve the revenue target in the medium term (FY2026-27). The revenue is expected to increase by about 13 percent in the three years including the current year to reach Tk. 6 lakh 95 thousand in the financial year 2026-27. NBR taxes are projected to increase by 28.2 percent in FY 2024, followed by increases of 17.1 percent in FY 2025, 15.2 percent in FY 2026, and 14.1 percent in FY 2027.
According to the document, there is no option but to increase revenue collection. To sustain the economic development of Bangladesh, the tax-GDP ratio should be brought to an acceptable level. As a result, the government is planning to bring in appropriate changes and reforms to make the tax policy and administration more effective and simple in the medium term. According to the document, various initiatives are underway by the government to make tax administration more taxpayer-friendly and transparent by expanding opportunities for digitization and automation in tax registration, return filing and tax payment.
There is even a rationale for scrutinizing the tax exemptions currently being given in various areas. Customs and Income Tax laws have been updated and further amendments are being made to make them taxpayer and business friendly. The Medium and Long Term Revenue Strategy (MLTRS) is currently being formulated by the National Board of Revenue; This is expected to pave the way for increased revenue collection over the next five years.
Along with the reform initiatives in the tax system, the government has also focused on exploring the possibility of revenue collection from NTR sources. Various initiatives are being taken so that the autonomous institutions give a share of their profits to the government. Sensitizing and encouraging Ministries/Departments to update fees/rates in the non-duty revenue sector, identify potential sources and collect revenue from these sources, the document said.
A database of fees/rates for government services provided by government agencies has already been created. It also said that besides updating the fees or charges of various services provided by the government, digital payment system has been launched. As a result, people can avail numerous services at their doorstep; Which will improve NTR collection in medium term. On the other hand, to encourage hassle-free income tax return filing, the National Board of Revenue (NBR) has ordered to make online filing of income tax return (e-return) mandatory for government employees under income tax circle located in Dhaka North, Dhaka South, Gazipur and Narayanganj City Corporation.
NBR has taken the initiative to simplify the process of filing and payment of income tax return through online. The online return filing system has been opened for taxpayers since September 9. Individual taxpayers can easily prepare their returns and file them online using the National Board of Revenue website (www.etaxnbr.gov.bd).
