Dhaka:According to Bangladesh Sangbad Sangstha, the National Board of Revenue (NBR) has introduced a 3-R strategy, which stands for Recovery, Restoration, and Reconstruction, to enhance revenue collection amid existing challenges. This strategy focuses on investment in tax administration, skill development, system interoperability, risk management, taxpayer service, technology, and compliance. These measures are intended to help achieve the revenue collection target for the fiscal year 2027.
The strategy's Recovery component aims for an average 16 percent growth in revenue collection. Restoration is focused on expanding the tax base and fostering a business-friendly revenue environment. Reconstruction intends to speed up revenue collection through increased transparency and voluntary compliance.
The NBR has detailed its capacity to meet government expenditure needs and measures to reduce the Tax-GDP gap. It presented its organizational structure and necessary steps to the parliamentary Standing Committee on the Ministry of Finance. The NBR aims to collect Taka 6,04,000 crore in FY27, with specific targets for its Income Tax, VAT, and Customs wings.
Income Tax is expected to contribute TK 2,23,480 crore, VAT TK 2,23,480 crore, and Customs TK 1,57,040 crore. The NBR plans to achieve these targets through a combination of regular growth, recovery of evaded taxes, and various policy and administrative measures.
For the Income Tax Wing, the authorities expect to mobilize revenue through regular growth, recovering evaded taxes, and implementing policy measures such as progressive tax rates and changes in investment rebates. Improvements in compliance and tax-case disposal are also part of the plan.
The VAT Wing aims for revenue through regular growth and additional measures, focusing on audits, arrears recovery, and expansion of VAT registration. The division plans to resolve a significant proportion of pending cases by the end of FY27.
The Customs Wing projects revenue growth through normal increases, budgetary measures, and other strategies such as post-clearance audits and preventing the misuse of bonded facilities. These efforts are expected to help the NBR meet its ambitious revenue goals for FY27.