Existing tax system has become a major hurdle to Bangladesh’s fiscal progress

NBR's existing software cannot perform advanced tasks of identifying undeclared incomes or tax frauds.

The government can generate additional revenue of Tk 30,000 crore in the next fiscal year of 2024-25 if it reduces existing tax exemptions for various sectors, according to a noted economist.

The NBR, however, missed the overall collection target by 45 percent during the eight-month period.