Dhaka, April 26 -- The government has successfully convinced the International Monetary Fund (IMF) to relax its ambitious tax revenue mobilization target for the National Board of Revenue (NBR).

The IMF has agreed to cut down the additional tax revenue collection target by Tk 170 billion for the next fiscal year taking into consideration the current economic perspective that cannot bear the burden of higher taxation in the upcoming budget.

A top government official in Washington confirmed the development to the FE on Saturday.

Earlier, during a visit to Bangladesh during the first half of April, the IMF mission set a target for the NBR to mobilize an additional Tk 570 billion in tax revenue in the upcoming fiscal year (FY). Achieving t...