'Withdrawal of tax exemption could generate additional Tk 600b'
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Phasing out certain tax exemptions could generate additional Tk 600 billion as tax revenue in the next four years while more extensive reform measures are designed and implemented.
Dr Ahsan H Mansur, executive director of the Policy Research Institute (PRI) said this at a programme at a city hotel on Tuesday.
In the programme, titled " Bangladesh's Domestic Resource Mobilisation: Imperatives and a Roadmap", Dr Mansur said increasing tax revenue is essential for stabilising the fiscal situation in the short term.
"Not implementing more widespread reforms will incur a revenue loss worth around Tk 50 trillion by the fiscal year ending 2041," he said while presenting a key note paper.
GDP growth could also be improved by 0.2 percentage points above current levels by raising domestic tax revenue by just 2.0 percentage points, he said.
Dr Mashiur Rahman, adviser to the Prime Minister's Office (economic affairs) chaired the programme.
State Minister for Finance Waseqa Ayesha Khan attended the programme as chief guest while National Board of Revenue chairman Abu Hena Md Rahmatul Muneem, Federation of Bangladesh Chambers of Commerce and Industry president Mahbubul Alam attended as chief guest.