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Bangladeshis need a change in mindset to grow the habit of paying taxes

By The Economist

Salman F Rahman, the prime minister's private industry and investment adviser, said Bangladeshis need a change in mindset to grow the habit of paying taxes as revenue generation is very important for inclusive development.

He also laid emphasis on increasing the tax-GDP ratio, pointing out that it was relatively low in the South Asian region. "In the last fiscal, the NBR (National Board of Revenue) was able to bring 55,000 new taxpayers under the net. Still, we have to widen the tax net," he said. He was addressing a call on by Rizwan Rahman, president of the Dhaka Chamber of Commerce and Industry (DCCI), and its board of directors.
 

"The government is also working to upgrade and modernise the overall revenue structure," he said. A third terminal is being constructed at the Hazrat Shahjalal International Airport. There is a plan to soon upgrade the Cox's Bazar airport to that of international standard, the adviser added.

Bangladesh has to meet 27 conditions to avail the GSP Plus facility on exports to the European Union once it graduates from the grouping of least-developed countries to a developing nation. A national strategy committee engaging all stakeholders into mapping preparedness roles and time-bound actions for all relevant agencies is needed. The same is needed for foreign direct investment promotion and its alignment with government strategies such as the industrial, import and export policies and foreign exchange regulations, he added.

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