• Sunday, Jun 26, 2022
  • Last Update : 03:54 pm

ED: Improving revenue collection is crucial to hitting our targets

  • Published at 07:00 am June 3rd, 2021

It is the entire culture of taxation that needs to change in the country

As the budget gets puts forward before parliament, Bangladesh must address a familiar issue, one that has always held back its full potential: Revenue collection. 

Indeed, after getting hit by the Covid-19 pandemic which has understandably caused great losses across the economy, businesses have rightfully called for revisions to the tax collection system to ease the tax burden on enterprises. Furthermore, economists and other experts have also expressed concern over providing funding to meet the budget deficit. 

Ultimately, it all boils down to Bangladesh simply being unable to address the issue of tax-paying, where every year, there are a fixed number of tax-payers. 

This failure to widen the tax net, in addition to the massive losses that have arisen as a result of defaulted loans from unscrupulous businesses and individuals, continues to put pressure on the financial institutions, the tax-payers who are model citizens and pay their taxes, and the business enterprises and industries who adhere to the rules. 

It is the entire culture of taxation that needs to change in the country. Those who pay taxes are constantly harassed, while those who evade them are allowed to carry on as usual. This cannot be allowed to continue, particularly for a country that harbours such ambitious economic benchmarks and goals. 

The issue of taxation and revenue collection cannot be fixed overnight. Yet, it is one that will be fundamental to Bangladesh. No country can truly prosper with such a limited tax-paying population, and until the culture of taxation is changed, and better systems are put in place to encourage tax-paying, Bangladesh will continue to suffer.

Facebook 46
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail