Dhaka, Feb. 29 -- The National Board of Revenue's (NBR) extensive efforts to meet the revenue collection target have largely been unsuccessful, jeopardizing the fulfillment of the loan conditions set by the International Monetary Fund (IMF).
The IMF has specified an objective to elevate Bangladesh's tax-to-GDP ratio from 7.8% to 8.3% by the end of the current fiscal year 2023-24, aiming to reach 9.5% by FY26.
To adhere to the terms of the IMF's $4.7 billion loan agreement, the government is required to augment its revenue by at least an additional Tk65,000 crore by the end of FY24, marking a significant 20% increase compared to the revenue collected in the ongoing fiscal year.
In efforts beyond the NBR's rigorous campaigns, the treasury ...