The National Board of Revenue (NBR) will announce tax plans a year in advance to help businesses plan more effectively, NBR Chairman Abdur Rahman Khan said on Saturday.
Speaking as the chief guest at a seminar on domestic revenue mobilisation at the ERF Auditorium, the chairman assured businesses that the NBR would avoid issuing unnecessary Statutory Regulatory Orders (SROs) that could alter tax rates mid-year, ensuring greater stability for the business community.
The seminar was jointly organised by the Economic Reporters' Forum (ERF) and Research and Policy Integration for Development (RAPID) with support from UK International Development.
The chairman emphasiaed that the revenue board has no intention of revoking the system for legalising undisclosed money in the upcoming budget. However, he expressed concern over unplanned government borrowing, which he said has increased pressure on revenue collection while limiting government spending on essential sectors like health, education, and welfare.
"Despite adopting an aggressive tax policy, Bangladesh continues to have the lowest tax-to-GDP ratio in South Asia," Abdur Rahman Khan highlighted, underscoring the need for more effective strategies to boost domestic revenue.
