Bangladesh's tax collectors failed to raise enough money this year. The National Board of Revenue wanted to collect 4.63 lakh crore taka but only managed 3.70 lakh crore. This left the government short by 94,000 crore taka. The shortfall happened because of political troubles and worker protests. Tax office employees went on strike at the end of the fiscal year.
Political chaos hurt business across the country after the July uprising. Companies made less money and paid fewer taxes to the government. Development projects also slowed down with only 49 percent completed. This was the worst development program performance in 15 years. The reduced business activity meant less tax revenue for the treasury.
NBR Chairman Md Abdur Rahman Khan said collections grew slightly over last year. The growth rate reached just over 2 percent compared to the previous fiscal year. He admitted that recent protests damaged collections in the final days. Officials had hoped to collect 3.80 lakh crore taka originally. The actual results disappointed government planners.
The government wants to collect 5.64 lakh crore next year. This ambitious target requires 35 percent growth over this year's poor performance. Tax collectors must work much harder to reach these goals. The economy needs to recover from political problems first. Meeting next year's target seems very difficult given current challenges.
Political chaos hurt business across the country after the July uprising. Companies made less money and paid fewer taxes to the government. Development projects also slowed down with only 49 percent completed. This was the worst development program performance in 15 years. The reduced business activity meant less tax revenue for the treasury.
NBR Chairman Md Abdur Rahman Khan said collections grew slightly over last year. The growth rate reached just over 2 percent compared to the previous fiscal year. He admitted that recent protests damaged collections in the final days. Officials had hoped to collect 3.80 lakh crore taka originally. The actual results disappointed government planners.
The government wants to collect 5.64 lakh crore next year. This ambitious target requires 35 percent growth over this year's poor performance. Tax collectors must work much harder to reach these goals. The economy needs to recover from political problems first. Meeting next year's target seems very difficult given current challenges.
