Dhaka: Bangladesh is moving towards a development path financed increasingly by its own resources rather than dependence on debt, Finance Minister Amir Khosru Mahmud Chowdhury said on Tuesday. 'Under the leadership of the Prime Minister, we have taken initiatives to implement bold reforms. This has been possible because of his commitment,' he said while speaking at the opening ceremony of the Revenue Conference 2026 at the Bangladesh-China Friendship Conference Centre in the capital.
According to United News of Bangladesh, the minister stated that a modern, cashless, and contactless revenue system will be a key pillar of a prosperous Bangladesh. Prime Minister Tarique Rahman inaugurated the conference, which was organised jointly by the Internal Resources Division of the Ministry of Finance and the National Board of Revenue (NBR).
Khosru highlighted that achieving the revenue collection target of Tk 6.04 lakh crore is the government's most important task at present. 'By achieving this target, we will be able to build a developed and prosperous Bangladesh as announced by the Prime Minister, Insha-Allah,' he said. The minister expressed hope that Bangladesh will overcome the challenges of graduating to a middle-income country by 2029 and build a trillion-dollar economy by 2034.
Khosru described businesses as the driving force of the country's economy, saying development is not possible without investment and employment generation. He pledged that the government will always be by the business community, urging them to cooperate with the government in achieving the revenue target. 'Paying taxes and VAT on time is the responsibility of businesses. We know that sometimes you face difficulties because of administrative complications and the behaviour of officials. We have taken initiatives to resolve these problems quickly,' the minister said. At the same time, he said the law must be strictly enforced against those who continue to evade taxes.
The minister emphasized that both taxpayers and revenue officials have responsibilities under the law. 'Just as taxpayers have a responsibility to pay taxes according to the law, revenue officials also have a responsibility to serve taxpayers impartially and respectfully,' he said. He stressed the need for a strengthened accountability mechanism, noting that 'harassing an honest taxpayer and giving unfair advantages to a dishonest taxpayer are both equally unacceptable.'
Khosru announced major reforms to the country's revenue administration, including the decision to split the existing NBR into two independent institutions - a Revenue Policy Department and a Revenue Management Department. 'This is not just an administrative reorganisation. It is a fundamental change in our approach,' he said. The Revenue Policy Department will work as an expert policy-making body responsible for developing a balanced, competitive, and development-friendly tax structure.
Khosru pointed out that the national budget for fiscal 2026-27 has set a record own-account revenue target of Tk 6.04 lakh crore, which is 46 percent higher than last year's actual collection. He acknowledged that while the target may appear ambitious, it is deliberately set to meet the country's development needs. Referring to the Prime Minister's vision, he stated that Bangladesh must transition from a debt-based economy to an investment-based economy by strengthening domestic resource mobilisation.
Modernisation, expansion, and end-to-end automation are deemed essential by Khosru to achieve the revenue targets. He emphasized a transition to a completely contactless and cashless revenue administration to end the culture of taxpayers having to visit tax officials unnecessarily. Several reforms have also been introduced to the Customs Act and VAT Act in the current budget to reduce harassment and establish a trust-based system. Khosru called for making the Alternative Dispute Resolution (ADR) method more effective and emphasized the importance of a clear Taxpayer Service Charter.
Lastly, Khosru urged the NBR to be seen as more than just a revenue-collecting agency. 'The Board of Revenue is no longer just a revenue-collecting institution. You are a companion in a businessman's financial journey,' he said, encouraging revenue officials to ensure that taxpayers feel proud of paying taxes and regard themselves as direct partners in the government's development efforts.