Dhaka, May 14 -- In a landmark move to modernise Bangladesh's tax system, the interim government on Monday announced the dissolution of the National Board of Revenue (NBR), replacing it with two new entities - the Revenue Policy Division and the Revenue Management Division - under the Ministry of Finance.

According to a statement issued by the Chief Adviser's Press Wing, the restructuring seeks to separate tax policy formulation from enforcement, aiming to improve efficiency, eliminate conflicts of interest, and broaden the country's tax base.

The NBR, operational for over five decades, has consistently underperformed in meeting revenue targets. Bangladesh's tax-to-GDP ratio currently stands at just 7.4 per cent - one of the lowest in A...