NBR starts work on FY18 budget

DHAKA, Jan 24, 2017 (BSS)- The National Board of Revenue (NBR) has started preparatory work for formulation of the national budget for fiscal year 2017-2018 (FY18).

As part of the preparation, the NBR has asked its field level offices to send opinion for preparing the budget proposals.

The NBR is considering the budget for FY18 is important because of its move to enact new VAT law and there is also mandatory provision for implementation of Trade Facilitation Agreement (TFA) announced by World Trade Organization (WTO).

"We have started preparatory work on formation of budget proposals for fiscal year 2017-18 and we have already sought opinion from our field level offices," NBR chairman Md Nojibor Rahman told BSS.

He said the field level offices of the NBR have been asked to give their opinion on whether there is necessity of taking any steps regarding rationalization of tariff at import level, trade liberalization and removing revenue related problems.

Terming revenue as oxygen for development, the NBR chief said he has a plan to give some fresh proposals in the budget for FY18 aiming at building 'revenue culture' in the country.

Source: Bangladesh Sangbad Sangstha (BSS)