Make tax payment system easier :
Income tax is the second biggest source of revenue for the government, according to our national budget, second only to Value Added Tax. Taxpayers have long complained that our tax system is complicated and has remained so, despite changes. It should be mentioned that the tax-GDP ratio in our country was only nine percent in FY 2016-2017, far below the 15 percent average among developing countries. Bangladesh’s per capita income is almost double that of Nepal’s, but our tax-GDP ratio is still lower than Nepal’s 14 percent.
The tax authorities should recognise that by simplifying our tax system it could ease the process for more people to pay taxes, which would in turn increase the government’s revenue earnings.
Md Zillur Rahaman
By e-mail
Income tax is the second biggest source of revenue for the government, according to our national budget, second only to Value Added Tax. Taxpayers have long complained that our tax system is complicated and has remained so, despite changes. It should be mentioned that the tax-GDP ratio in our country was only nine percent in FY 2016-2017, far below the 15 percent average among developing countries. Bangladesh’s per capita income is almost double that of Nepal’s, but our tax-GDP ratio is still lower than Nepal’s 14 percent.
The tax authorities should recognise that by simplifying our tax system it could ease the process for more people to pay taxes, which would in turn increase the government’s revenue earnings.
Md Zillur Rahaman
By e-mail
