Eye on austerity, internal revenue rally: Fin adviser

FE REPORT

Finance and commerce adviser Dr Salehuddin Ahmed on Saturday vowed to intensify the government's austerity measures and focus on domestic revenue mobilisation rather than depending on foreign assistance only.

He urged the taxmen to shed the spotlight on tax collection avoiding fear-factor to meet the country's dire needs in the wake of a bleak picture of foreign investment.

The adviser also instructed tax officials to do justice to the taxpayers and avoid the lengthy process of paying taxes.

At a programme styled 'Finance Act-2024 and Changes in Income Taxes', hosted by the BCS Taxation Association at the National Board of Revenue (NBR), he suggested easing the protracted procedure of mobilising revenue from taxpayers.

NBR chairman Abdur Rahman Khan requested the taxpayers to file tax returns online and pay taxes regularly in a bid to ease the country's debt burden.

"It has been alleged that the taxpayer's money is being wasted in different ways. We have to find a way out," he commented.

BCS Taxation Association president and zone-06 tax commissioner Md Lutful Azeem said reform in income tax measures was necessary along with other initiatives carried out by the interim government.

"We want automation. There is no scope to resist it," he added.

Investment in tax collection has a multiplier effect where the government could mobilise Tk 50 billion investing Tk 10 billion, he said stressing the need for advanced training for taxmen.

According to Mr Azeem, the income tax wing has no sufficient logistics to chase tax evaders.

BCS Taxation Academy director general Iqtiaruddin Mamun presented a paper on changes in income tax laws in the Finance Act-2024.

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