Chairman of National Board of Revenue ( NBR) Md. Abdur Rahman Khan said that there is no scope to reduce tax rates too much. However, even a company makes a loss, it has to pay taxes, and there will be an effort to do something about it in the new budget.
In the context of new tariff imposed by the USA the overall tariff rate will be further rationalized, he said. He made the observation while speaking as a special guest at 2025-26 pre-budget discussion at Hotel Intercontinental on Sunday.
The discussion organized by Dhaka Chamber of Commerce and Industry (DCCI) was supported by the Daily Samakal and Channel 24. Samakal Editor Shahed Muhammad Ali delivered the closing speech in the program moderated by DCCI President Taskin Ahmed.
The NBR Chairman said the country's tax-GDP ratio is very low and evasive tendency to pay taxes is one of the main reasons. As an example, he said, the country's out of 1.45 crore TINs holders, about 4.5 million have submitted tax returns. Two-thirds have filed zero returns considering that they have no taxable income.
In view of the demand of businessmen to completely automate the NBR activities, he said, "We have no alternative but automation. We are trying our best in this regard. Work is underway to bring tax payment to the mobile app. We are making preparations that all individual income tax payers can submit their returns online from the next fiscal year. We are also trying to bring company taxpayers to the same process."
He also said there is no scope for reducing income tax rate of individuals and companies. However, taxpayers will get a positive message in the next budget. Efforts are being made to make the tax system non-discriminatory.
He said, most revenue comes from VAT and income tax. Not only in the context of new tariffs by the United States, but also due to the transition from LDC.
Overall, the government wants to formulate a non-discriminatory tax policy. We want the same rate for everyone. It won't be less for some, more for others. The tax exemptions that have been given for a long time will be reduced in the new budget.
