The Chairman of the National Board of Revenue (NBR), Md Abdur Rahman Khan, announced plans to implement a quarterly tax return submission system throughout the fiscal year 2026-27. This initiative is part of a larger reform strategy aimed at propelling Bangladesh towards becoming a welfare state. The new system is designed to streamline tax compliance processes and enhance national revenue by introducing structural changes, such as the reintroduction of wealth tax and the potential implementation of an inheritance tax.
During a pre-budget meeting held at the NBR headquarters, the Newspaper Owners’ Association of Bangladesh (NOAB) and the Association of Television Channel Owners (ATCO) presented their proposals for the upcoming fiscal year. Khan detailed the framework of the year-round submission system, which will be divided into four periods. Taxpayers will receive incentives in the first quarter, pay standard rates in the second quarter, and encounter escalating costs or surcharges for submissions made in the third and fourth quarters.
Explaining the rationale behind these reforms, Khan highlighted the inadequacy of the current revenue-to-GDP ratio in meeting the substantial needs for social safety programs, operational budgets, and infrastructure for employment generation. He underscored that the reintroduction of wealth tax aims to ensure that individuals with higher financial capacities contribute proportionately more to the national treasury.
Khan emphasized the government’s dedication to transforming Bangladesh into a welfare-oriented state, emphasizing the necessity of bolstering revenue generation to meet the increasing demand for social welfare schemes and essential infrastructure. To achieve these objectives, the NBR is utilizing cutting-edge technological solutions and Artificial Intelligence (AI) to combat tax evasion effectively.
