NBR reform not possible without political will: FE editor

Major reforms of the National Board of Revenue will not be possible without political will, Shamsul Huq Zahid, editor of The Financial Express, has said. 

He made the remarks while chairing a pre-budget roundtable discussion jointly organised by The Financial Express and the Institute of Chartered Accountants of Bangladesh.

Mr Zahid said the country’s revenue system needs major reforms, but such reforms are not meant for the NBR alone. Taxpayers who receive services from the revenue authority also need to be part of the reform process, he said.

The main topic of the discussion was digital accounting and revenue mobilisation, he said, adding that the two issues are closely linked.

Both sides have a role in ensuring compliance, according to Mr Zahid.

“There is reluctance among those who are supposed to do digital accounting. On the other hand, there is also reluctance among those who are supposed to mobilise revenue,” he said.

“As a result, our compliance level is very low.”

Referring to the remarks made by the adviser at the discussion, Mr Zahid said the main message was that the country’s revenue sector needs major reforms.

Describing reform as a difficult process, he said: “Reform is very painful. No one wants reforms.”

He said political will, or the government’s willingness, is essential to implement such reforms.

“Without political will, without the government’s willingness, no such reform is possible,” Zahid said.

He hoped that the assurances given by the adviser would be realised and the revenue system would improve.