Staff Reporter :
The number of tax-payers will be increased to 40 lakh by 2019-20 financial year (FY19), said finance minister AMA Muhith on Tuesday.
Addressing a programme on the National Income Tax Day at a city hotel, the Minister said currently 11 lakh people submit income tax, which is less than 1.0 percent of the total population.
“The number would be 40 lakh if we can bring in at least 2.0 percent of the total population under tax-net”, he said, adding that the target may sound highly ambitious, but we should figure out the way to raise the number of tax-payers at a higher rate.
The minister said the tax-GDP ratio, which is lower in Bangladesh than many other poor countries, should be increased through bringing in more people under tax-net.
Muhith said there were allegations that tax authorities often put undue pressures on tax-payers, particularly on businessmen, but the situation has improved a lot, with restructuring and modernising the tax administration. He called upon taxmen to take care so people would not face any trouble to pay taxes regularly.
The finance minister also urged the businessmen and people in general to help create a culture of paying taxes regularly for ensuring sustainable development of the country.
State minister for Finance and Planning MA Mannan, National Board of Revenue (NBR) Chairman Md Nojibur Rahman and President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Abdul Matlub Ahmad also addressed the programme.
