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Bangladesh Government introduces policy to boost non-tax revenue

BY Insider Desk

October 07, 2024

Bangladesh’s interim government has issued a new policy aimed at increasing non-tax revenue collection as the country continues to struggle with poor revenue mobilization.

A circular from the finance ministry requires non-NBR tax collection agencies to submit annual reports on the rates or fees they charge. The Finance Division will review these reports each October for potential adjustments.

Non-tax receipts include fees for land, vehicles, stamp duty, and surcharges. The move comes as Bangladesh’s tax-to-GDP ratio remains one of the lowest globally.

In fiscal 2023-24, non-tax revenue rose slightly to Tk 47,121 crore, but overall revenue fell short of the Tk 5 lakh crore target. The ministry plans to update rates every three years or as needed, considering inflation and living costs.

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