People want to pay taxes but the systems should be improved to boost tax collection, said Finance Minister AHM Mustafa Kamal on Thursday terming present generation a ‘Revenue Generation.’
“There was fear among people about tax earlier, most of what has gone. Now, the system should be developed,” he said as he virtually took part in an NBR event to honour best taxpayers.“If the system can be improved, more people will come under the tax net. I hope that there is no work that our people can’t do. They want to pay tax,” he added.
He also called for a co-ordination in the tax administration for more tax collection.
In the event, 10 out of 141 selected best taxpayers were honoured with a certificate, a crest and an ID card each, while the rest have been awarded through their respective tax regions.
Calling for giving tax, Kamal said: “Give your own tax and encourage others to pay tax. We’ve many ongoing mega projects and more are coming. The courage for these comes from taxpayers.” “So, all have to work for expanding the tax net.”
Mentioning the country’s low tax collection compared to those in neighbouring countries, the finance minister said Bangladesh’s tax level should be at least GDP’s 15 to 17 percent.
For this, NBR has to go digital system so tax collection from existing increases while new sectors come out. “So, turn the tax system into a digital one without delay,” he asked the tax regulator.The minister said direct taxes have increased, but increasing it further will need expansion of tax net with keeping intact the tax rates.
“Above all we’ve to increase tax sectors. If we can do that, we’ll be able to reach our goal,” he pointed out.
State Minister for Public Administration Farhad Hossain was also present at the event held with NBR Chairman Abu Hena MD Rahmatul Muneem in the chair.