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22 May, 2019 10:27:25 PM
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Tax to be realized without hurting taxpayers: Minister

Independent Online Desk
Tax to be realized without hurting taxpayers: Minister
File photo of Finance Minister AHM Mustafa Kamal

Finance Minister AHM Mustafa Kamal on Wednesday reiterated that tax would be realized but it will not hurt the taxpayers while the exiting tax net would be further widened.

“My policy is to collect tax by not hurting the taxpayers or increasing the tax burden. We’ll reach out to those who are not paying taxes and thus collect tax.”he said.

The Finance Minister was addressing a meeting and Iftar mahfil organized in honour of the members of the Economic Reporters’ Forum (ERF) held at the NEC Conference Room in the city’s Sher-e-Bangla Nagar area.

PM’s Private Industry and Investment Affairs’ Adviser Salman F Rahman was also present.

ERF President Saif Islam Dilal and General Secretary SM Rashidul Islam spoke, among others.

Kamal noted that the tax-GDP ratio is still low in Bangladesh with around 10 percent compared to other neighboring countries which is 18-19 percent, Kamal said that the country could increase its tax-GDP ratio much more if it could raise its revenue generation to a great extent.

He said it’s unfortunate for the country that those who are paying taxes over the years are paying taxes, but there are also many people who are not paying taxes despite having capacity.

The philosophical perspective of the government this time is not to burden over the existing taxpayers, rather to widen the tax net.

Reiterating that the new VAT law would come into effect from 1st of July, Kamal said 10,000 people would be added to the NBR through outsourcing to enforce the implementation of the VAT law to realize more VAT.

He said that the VAT law has been framed in a transparent and easy way.

The Finance Minister opined that the tax collection would increase to a great extent if the distortions and corruption were curbed.

He informed that steps have been taken to scan all the inbound and outbound consignments to evade tax. Besides, only 10 percent of the consignments would be examined physically, he added.

The Finance Minister also urged the media to motivate common people to pay tax out of patriotism and moral obligation. BSS

SI

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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