National Board of Revenue in Bangladesh launches sector-specific tax drives

The National Board of Revenue (NBR) in Bangladesh has initiated intensive tax collection drives following a Tk25,491 crore revenue shortfall during July and August. This comes despite a significant growth target of 47 per cent for the upcoming fiscal period.

To address the deficit, the NBR has been instructed to target one major industry each month. The pharmaceutical sector was the focus in September, with another major sector selected for October. The strategy involves coordinating customs, value-added tax (VAT), and income tax enforcement to identify businesses operating outside the formal tax system.

The government faces increasing fiscal pressure due to rising energy import costs, planned increases in public-sector pay structures, and commitments to large-scale development projects. This strain is already impacting the banking system, with the government borrowing approximately Tk24,245 crore in the first quarter of the current financial year.