government of Bangladesh
Govt has no complete list of public services against which it levies fees or charges: Finance Ministry document
The government of Bangladesh has no complete list of public services against which it levies fees or charges.
“There are thousands of public services against which the government levies fees or charges, but there is no complete list of such fees and charges and when those were imposed,” according to an official document of the Finance Ministry.
According the official document titled ‘Medium Term Macroeconomic Policy Statement (2023-24 to 2025-26)’ of the Finance Division of the Finance Ministry, the government has partially set up an online database of all non tax revenue (NTR) items with the fees, charges or prices and their dates of imposition.
“This partial database has opened scope with the hope of increasing NTR income manifolds from administrative fees,” it said.
On the other hand, the government is not only focusing on enhanced revenue mobilisation from NTR by raising fees or charges, but also putting its best effort to ensure efficient and satisfactory service delivery.
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The government has taken numerous initiatives to make service delivery systems paperless and to minimise human deployment in this system. This is one of the key features to building Smart Bangladesh by 2041, the document said.
The government has multiplied public investment during the last one and a half decade, of which the SOEs/Autonomous Bodies (ABs) have enjoyed capital support either in the form of loans or equities.
Loans are registered under government accounts through Subsidiary Loan Agreements (SLAs) and thereby interest is charged.
“However, there is no consolidated database for equity investments of the government and therefore there is no precise estimate for dividend income,” the official document said.
The government has taken the initiative to create an exhaustive database for equity investments in the SOEs/ABs as well as establish a Financial Reporting Council for setting standard financial statements to ensure proper assessment of these organisations.
According to the ‘Medium Term Macroeconomic Policy Statement (2023-24 to 2025-26)’, With the economic advancement of the country the scope and volumes of public services have evolved and expanded.
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Government organisations are engaged in delivering various new services in new forms to the public.
The government has taken initiatives to explore such novel and voluminous services against which fees/charges may be collected through organising stakeholders’ consultation workshops, seminars, etc.
As per the Medium Term Macroeconomic Policy Statement (2023-24 to 2025-26) of the Finance Division, some Tk 5343 billion will come from tax revenue sector in the 2024-25 fiscal year and Tk 6463 billion in 2025-26 fiscal year.
In the next two fiscal years, the National Board of Revenue (NBR) will provide Tk 5095 billion and Tk 6171 billion.
From the Income Tax wing, the collection will be Tk 1753 billion for the next fiscal while Tk 2123 billion for 2025-26 fiscal, and the collection from import duties will be Tk 1511 billion and Tk 1830 billion respectively.
From the VAT and supplementary Duties, the revenue collection will be Tk 1831 billion and Tk 2218 billion respectively.
The non-NBR tax for the 2024-25 fiscal and 2025-26 fiscal will be Tk 248 billion and Tk 292 billion respectively with non-tax revenue collection will be Tk 529 billion and Tk 634 billion respectively.
The target for running 2023-24 fiscal is Tk 5000 billion with Tk 4500 billion from tax revenue. Of the total amount, Tk 4300 billion will come from NBR through Tk 1480 billion from income tax, Tk 1275 billion from import duties, Tk 1545 billion from VAT and supplementary duties. Some Tk 200 billion will be collected from the non-NBR sector while Tk 500 billion from the non-tax revenue sector.
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Ambitious targets: Govt aims to collect Tk 5872 billion and Tk 7097 billion revenue in FY 2024-25, FY 2025-26
The government of Bangladesh has set ambitious revenue collection targets for the fiscal years 2024-25 and 2025-26, aiming to gather Tk 5872 billion and Tk 7097 billion, respectively. The strategy hinges on enhancing digitalization and simplifying tax procedures for both businesses and individuals.
The focus will be on direct taxes and VAT to raise more revenue. In addition to expanding the tax net and increasing the capacity of tax officials, exercises will be carried out to rationalise the current culture of widespread tax exemptions and to bring in heightened transparency in the budgetary discourse.
As per the Medium Term Macroeconomic Policy Statement (2023-24 to 2025-26) of the Finance Division of Finance Ministry, some Tk 5343 billion will come from the tax revenue sector in 2024-25 fiscal and Tk 6463 billion in 2025-26.
In the next two fiscal years, the National Board of Revenue (NBR) will provide Tk 5095 billion and Tk 6171 billion.
From the Income Tax wing, the projected collection will be Tk 1753 billion for the next fiscal, and Tk 2123 billion for 2025-26 fiscal. Collection from the import duties will be Tk 1511 billion and Tk 1830 billion respectively.
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From VAT and Supplementary Duties, the revenue collection will be Tk 1831 billion and Tk 2218 billion respectively.
The non-NBR tax for 2024-25 and 2025-26 will be Tk 248 billion and Tk 292 billion respectively. Non-tax revenue collection will be Tk 529 billion and Tk 634 billion respectively.
The target for the running 2023-24 fiscal is Tk 5000 billion with Tk 4500 billion from tax revenue. Of the total amount, Tk 4300 billion will come from NBR through Tk 1480 billion from income tax, Tk 1275 billion from import duties, Tk 1545 billion from VAT and Supplementary duties. Some Tk 200 billion will be collected from the non-NBR sector while Tk 500 billion from non-tax revenue sector.
According to the Medium Term Macroeconomic Policy Statement, revenue outturns estimated for 2023-24 and projection for the next two years show high elasticity and buoyancy, implying robustness in revenue mobilisation in the medium term.
It mentions that among the tax and non-tax parts of the revenue, the tax revenue is forecasted to be more buoyant and elastic than the non-tax part.
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The elasticity data shows that the overall revenue is projected to grow 1.65 times higher than the nominal GDP in FY 2025-26.
As per the statement, the revenue elasticity of GDP for the 2023-24 fiscal is 1.28 times higher than the last fiscal while it is projected to be 1.40 times higher in the next 2024-25 fiscal year.
The tax revenue elasticity of GDP will be 1.33 times higher in the current fiscal while it will be 1.50 times higher in the next fiscal and 1.66 times higher in 2025-26 fiscal year.
The non-tax revenue elasticity of GDP for the running fiscal will be 0.92 times higher in the current fiscal, 0.47 times higher in the next fiscal year, and 1.57 times higher in 2025-26 fiscal year.
On the other hand, the buoyancy indicates that, in FY 2025-26 the tax revenue in real terms may grow 98 percent higher than the growth of real GDP.
The Policy Statement mentions that the revenue mobilisation acts as a catalyst to achieve the development outcomes of a country. Bangladesh has envisioned its long-term development trajectory to be a higher middle-income country in 2031 and to be a developed country in 2041.
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In addition to these aspirations, the ‘Perspective Plan of Bangladesh 2021-2041’ has targeted to raise the revenue- GDP ratio to 19.55 percent by 2031 and to reach 24 percent by 2041.
The statement says that the spectacular growth Bangladesh registered in the last decades, however, has not been underpinned by concomitant revenue growth. A large share of the revenue comes from the direct (income tax) and indirect taxes (VAT and customs) collected by the National Board of Revenue (NBR). Non-NBR taxes and Non-Tax Revenue (NTR) consists of smaller parts.
It said that there is a need to identify the reasons for low revenue collection to move onto the essential next step to correct the course. It is important to understand various issues such as the economic structure (large informality and exemptions), structural weaknesses (complicated processes and information asymmetry), and cultural factors (apathy towards paying taxes) that contribute to significant underperformance in revenue collection.
The government, the policy statement said, with the support of private sector operators, is keen to make paying taxes easy, tax rules easy to understand and rationalise tax exemptions.
Success in revenue collection will be strengthened by making the tax administration easy to approach, increasing digitalization to bring in transparency and predictability and bringing in progressivity in taxation where rich people pay a higher part of the taxes, it added.
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What BRAC University says about Asif Mahtab
BRAC University, a renowned private university of the country, today issued a statement clearing its stance over the recent incidents involving part-time teacher Asif Mahtab Utsha and demonstration by some students on the campus.
BRAC University said it believes, like all great institutions of higher education, its role should be to create space for all views to be discussed and debated constructively, predicated on tolerance and respect.
The university said that it considers any act of vandalism towards national property as unacceptable behavior and does not tolerate or support such activities.
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“The recent act of tearing pages of a textbook published by the Government of Bangladesh, included in the national curriculum for students enrolled in 7th grade in schools, and asking others to do the same in a public forum, is an act of vandalism, a behavior not supported by BRAC University,” the statement reads.
The university said, it therefore, cannot offer a part-time teaching contract to Asif Mahtab Utsha for the Spring 2024 semester. However, the university will compensate him for his time and efforts towards his preparatory work for Spring 2024.
BRAC University said it respects and fully complies with the country's constitution and laws on all matters. Accordingly, it does not promote homosexuality as has been alleged by some quarters in various social media content.
However, BRAC University said it believes in equal rights and opportunities for every single human being to realize their potential.
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US says it takes incidents of violence in Bangladesh very seriously, stresses importance of dialogue
The United States has said it is "closely monitoring" the electoral environment in Bangladesh leading up to January’s national election, and they take incidents of violence "very seriously".
At a regular briefing at the US Department of State on Tuesday (October 31, 2023), Spokesperson Matthew Miller said they are engaging and will continue to engage with the government, opposition, civil society, and other stakeholders to urge them to work together for the benefit of the Bangladeshi people, and to ensure free and fair elections that are conducted in a peaceful manner.
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"We do believe that dialogue is important to achieving those goals," he said.
Miller said holding of free and fair elections is the responsibility of everyone - all political parties, voters, government, civil society, and the media.
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"And what we want in Bangladesh is the same thing the Bangladeshi people want, which are free and fair elections conducted in a peaceful manner," the US State Department spokesperson said.
Chief Election Commissioner (CEC) Kazi Habibul Awal on Tuesday said the Election Commission has no option except to hold election on time as per the constitution.
“The EC has to hold the election on time, no matter what the situation is,” the CEC told journalists after his meeting with US Ambassador Peter Haas.
Responding to a question, US State Department Spokesperson Miller said, “Let me just say that we have made clear that we expect the Government of Bangladesh, as we expect every government, to comply with their obligations under the Vienna Conventions for the safe protection of diplomats.”
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Government increased its efforts to prevent trafficking
The government of Bangladesh demonstrated overall increasing efforts compared to the previous reporting period towards preventing human trafficking, earning itself an upgrade to Tier 2 in a ranking of countries fighting trafficking, says a US report.
These efforts included convicting more traffickers, modestly increasing the number of victims identified, acceding to the 2000 UN TIP Protocol, and at the close of the reporting period establishing seven anti-trafficking tribunals as stipulated in Bangladesh’s anti-trafficking law.
In addition, the government continued to allow humanitarian access to the Rohingya camps, according to US State Department report on Trafficking in Persons released on Thursday.
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