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Search date: 23-05-2019 Return to current date: Click here

Govt plans to expand tax net, not burden: Kamal

FE Report | May 23, 2019 00:00:00


The government will focus on widening tax net instead of increasing tax burden on the existing taxpayers, said Finance Minister A H M Mustafa Kamal.

"The existing taxpayers will not face additional burden in the budget."

Those who are not paying tax will be brought under tax net in the upcoming fiscal year (FY), 2019-20, he added.

The minister said these at a pre-budget discussion with the Economic Reporters Forum (ERF) members at the National Economic Council (NEC) conference room in the city.

He said some 10,000 students will be recruited from schools and colleges through outsourcing to expand tax net in upazila level.

Mr Kamal opined that the country's revenue generation is poor compared to the size of national economy. With implementation of the new law from July 1, VAT will be the prime source of revenue collection.

He observed that corruption in tax collection as well as misdeclaration in import of products will be checked in the upcoming FY.

Responding to a query on revenue shortfall, the finance minister said tax collection will gear up in May and June.

Tax collection might reach Tk 2.65 trillion in the current FY with a 15 per cent growth, he added.

doulot_akter@yahoo.com


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