WB hints at $80m funding for modernising tax administration
Thursday, 2 August 2007
SM Jahangir
Bangladesh government is expected to receive a fund amounting to US$ 80 million from the World Bank (WB) for modernisation of its tax administration, a senior official of the Bank said.
The National Board of Revenue (NBR) has initiated a mega programme titled "Revenue Administration Modernisation Project (RAMP)", aiming to make the government's revenue collection process time-bound and effective, official sources said.
"Fund ranging between $70 million and $80 million could be made available for modernisation of the tax administration in Bangladesh," WB Country Director in Bangladesh Xian Zhu told the FE recently.
The WB has agreed in principle to fund the proposed project, the WB representative said, adding that the proposed project is now at its initial stage.
Zhu, however, indicated that the negotiation process regarding the funding arrangement could take place with the government shortly.
A senior NBR official, however, said: "Major upgradation and modernisation of tax administration are in the offing to bring efficiency and dynamism in the government's tax collection process."
He further said: "If everything goes according to the plan, the proposed project will kick off within the next few months."
Earlier, WB, the multilateral donor, had assured the government of providing necessary funding support for the initiative, the NBR official admitted.
Bringing about major structural changes in the tax administration, simplification of revenue collection procedures and development of human resource are high on the project agenda, the official mentioned.
He also said the RAMP aims to build the capacity of the revenue administrations through upgrading the skills of tax officials.
According to officials, all the wings - Income Tax, Customs and Value Added Tax (VAT) - along with the NBR itself will come under the proposed modernisation project.
They, however, said the proposed RAMP will be a follow-up of the existing 'Modernisation and Automation Project (MAP)', which was launched earlier for enhancing the administrative capacity of the NBR.
Bangladesh government is expected to receive a fund amounting to US$ 80 million from the World Bank (WB) for modernisation of its tax administration, a senior official of the Bank said.
The National Board of Revenue (NBR) has initiated a mega programme titled "Revenue Administration Modernisation Project (RAMP)", aiming to make the government's revenue collection process time-bound and effective, official sources said.
"Fund ranging between $70 million and $80 million could be made available for modernisation of the tax administration in Bangladesh," WB Country Director in Bangladesh Xian Zhu told the FE recently.
The WB has agreed in principle to fund the proposed project, the WB representative said, adding that the proposed project is now at its initial stage.
Zhu, however, indicated that the negotiation process regarding the funding arrangement could take place with the government shortly.
A senior NBR official, however, said: "Major upgradation and modernisation of tax administration are in the offing to bring efficiency and dynamism in the government's tax collection process."
He further said: "If everything goes according to the plan, the proposed project will kick off within the next few months."
Earlier, WB, the multilateral donor, had assured the government of providing necessary funding support for the initiative, the NBR official admitted.
Bringing about major structural changes in the tax administration, simplification of revenue collection procedures and development of human resource are high on the project agenda, the official mentioned.
He also said the RAMP aims to build the capacity of the revenue administrations through upgrading the skills of tax officials.
According to officials, all the wings - Income Tax, Customs and Value Added Tax (VAT) - along with the NBR itself will come under the proposed modernisation project.
They, however, said the proposed RAMP will be a follow-up of the existing 'Modernisation and Automation Project (MAP)', which was launched earlier for enhancing the administrative capacity of the NBR.