The decision to abolish the National Board of Revenue (NBR) and divide it into two separate entities will soon receive legal backing, Finance and Planning Minister Amir Khosru Mahmud Chowdhury has said. He stated that the plan to split the revenue authority has been finalized and will be given legal form shortly.
The minister made these remarks while speaking to journalists at the NBR headquarters in Agargaon, Dhaka, on Wednesday. Prior to the briefing, he held a meeting with customs and tax officials.
Economic Outlook
Commenting on the overall economic situation of the country, Amir Khosru Mahmud Chowdhury said the current government is working with specific goals to ensure economic development and maintain discipline. He expressed hope that a positive impact on the national economy will become visible in the near future, along with achieving the desired growth in Gross Domestic Product (GDP) and revenue collection.Revenue Collection Progress
Regarding revenue collection, the Finance Minister noted that income tax collection has seen a growth of over 14 percent. The customs sector has also achieved a growth of nearly 14 percent. He believes that if this momentum continues, the targets set for the revenue sector will be met.The decision to restructure the NBR has been a subject of discussion for a considerable period. The initiative is widely seen as an effort to make the revenue administration more efficient and accountable. However, the specific division of responsibilities and functions between the two new entities has not yet been officially announced.
