The government is going to separate policy formulation and revenue collection activities to bring transparency in the revenue collection process. The advisory council has already agreed to the proposal to separate the two functions. As a result, the task of formulating revenue-related policies will no longer be in the hands of the National Board of Revenue (NBR). The NBR will be limited to revenue collection only. And a separate organization will formulate revenue-related policies, which will be established as a new department of the Ministry of Finance.<\/p>\n
Experts say that when the same organization is responsible for policy formulation and revenue collection, opportunities for corruption arise in the revenue sector. Sometimes, in the interest of increasing revenue collection, those involved in the NBR formulate policies without considering the capabilities of taxpayers and businessmen. This increases the suffering of taxpayers. It has been seen in the past that some dishonest officials of the NBR have taken unethical benefits from influential people and formulated policies according to their convenience. They have exempted revenue due to political influence. Although they have benefited individuals, the government’s revenue collection has decreased.<\/p>\n
Earlier, the International Monetary Fund (IMF) and the World Bank have suggested separating the functions of fiscal policy formulation and revenue collection. On the other hand, the National Board of Revenue Reform Advisory Committee also recommended separating the two functions of revenue collection by reviewing various documents, international best practices, and the opinions of relevant stakeholders on the separation of fiscal policy and revenue administration.<\/p>\n
It is learned that since the Secretary of the Internal Revenue Department is the Chairman of the National Board of Revenue, he and the senior management of the National Board of Revenue have to be engaged in revenue collection as well as formulating revenue policies. As a result, it is becoming difficult for the National Board of Revenue to collect the expected revenue and to take adequate measures to increase institutional capacity for this purpose.<\/p>\n
It is learned that the National Board of Revenue Reform Advisory Committee has already submitted its report. The committee’s recommendation states that the NBR’s job will be to collect revenue only. All revenue-related policies will be made by a separate organization. Its name may be the Revenue Policy Commission. This organization will also prepare the budget bill.<\/p>\n
It is learned that the interim government started the reform process in the country after the student uprising on August 5. As part of this, the government formed a five-member advisory committee to reform the NBR in October. This committee submitted an interim report on revenue collection and policy adoption.<\/p>\n
Currently, the NBR is an organization under the Internal Resources Department (IRD) of the Ministry of Finance. The IRD secretary himself serves as the NBR chairman. The advisory committee’s recommendation states that the NBR will function as a separate department from now on. It will be headed by an officer of the rank of secretary. The chairman of the NBR can be appointed from among the NBR officers. The NBR’s work will only be to collect duties and taxes from the field level.<\/p>\n
On the other hand, the power to adopt policies related to income tax, VAT and customs will go to the Revenue Policy Commission. An officer of the rank of secretary will be its head. There, skilled and experienced revenue-related personnel including customs, VAT, and income tax will be appointed. In addition, a permanent advisory council will be formed with representatives from the Ministry of Finance, Ministry of Commerce, Ministry of Industries, NBR, major business organizations, and renowned research institutions. This council will meet at least four times a year and provide advice on revenue policy.<\/p>\n
All revenue-related policies adopted by this commission must be approved by that standing committee. It is learned that the NBR used to make changes related to customs and taxes in the budget. The advisory committee has recommended that from now on, the commission will do this work. This means that the commission will also formulate the finance bill.<\/p>\n
The customs and tax tribunals under the NBR for revenue cases will go under that commission. The members of the advisory committee feel that the one who collects revenue cannot be the judge of revenue-related disputes. There are allegations that dispute resolution is not without question.<\/p>\n","protected":false},"excerpt":{"rendered":"
The government is going to separate policy formulation and revenue collection activities to bring transparency…<\/p>\n","protected":false},"author":1,"featured_media":23923,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[103],"tags":[130],"class_list":["post-23922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bangladesh-en","tag-revenue-policy"],"jetpack_publicize_connections":[],"featured_image_urls":{"full":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?fit=645%2C363&ssl=1",645,363,false],"thumbnail":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?fit=300%2C169&ssl=1",300,169,true],"medium_large":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?fit=640%2C360&ssl=1",640,360,true],"large":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?fit=640%2C360&ssl=1",640,360,true],"1536x1536":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?fit=645%2C363&ssl=1",645,363,true],"2048x2048":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?fit=645%2C363&ssl=1",645,363,true],"covernews-slider-full":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?resize=645%2C363&ssl=1",645,363,true],"covernews-slider-center":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?resize=645%2C363&ssl=1",645,363,true],"covernews-featured":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?fit=645%2C363&ssl=1",645,363,true],"covernews-medium":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?resize=540%2C340&ssl=1",540,340,true],"covernews-medium-square":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?resize=400%2C250&ssl=1",400,250,true]},"author_info":{"display_name":"Biz Trend 24","author_link":"https:\/\/biztrend24.com\/author\/online24"},"category_info":"Bangladesh<\/a>","tag_info":"Bangladesh","comment_count":0,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2025\/01\/Screenshot-2025-01-22-112319.jpg?fit=645%2C363&ssl=1","jetpack-related-posts":[{"id":27898,"url":"https:\/\/biztrend24.com\/?p=27898&lang=en","url_meta":{"origin":23922,"position":0},"title":"Will not implement the budget by printing money: Finance Advisor","author":"Biz Trend 24","date":"May 13, 2025","format":false,"excerpt":"The budget will not be implemented by borrowing from banks or printing money, Finance Advisor Dr. Salehuddin Ahmed said. 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