Dhaka, Sep 10 (V7N) – In a bid to address the immediate financial challenges faced by the government, Finance and Trade Adviser Salehuddin Ahmed has called for a reduction in the wastage of public funds. Speaking at a discussion on the amendments to direct taxes under the Finance Act, 2024 at the National Board of Revenue (NBR) in Agargaon, Dhaka, Salehuddin emphasised the importance of relying on domestic resources rather than foreign loans.

"The government needs money right now," Salehuddin stated during the event, organised by the Bangladesh Civil Service (Taxation) Association on Saturday. He stressed the need for better financial management and curbing unnecessary spending, highlighting that efficient revenue collection could alleviate the country’s reliance on external borrowing.

Addressing the tax officials, the financial advisor urged them to create a fair and supportive environment for taxpayers, cautioning against using heavy-handed tactics. "Fear should not be created in the minds of taxpayers. Do justice to them," he advised.

Salehuddin also noted that foreign investment might not provide significant relief and encouraged a focus on raising internal revenue. He highlighted that while evading tax collection is not an option, indirect obstacles make the process difficult for many. "Do not collect revenue from anyone through hardship," he added, stressing the need for efficiency in revenue collection.

NBR Chairman Abdur Rahman Khan echoed Salehuddin's sentiments and urged citizens to submit their tax returns online. He acknowledged public concerns over the mismanagement of taxpayer money, stating, "There is a rumour that the revenue given by taxpayers is wasted in various ways. NBR should get out of here."

Khan further mentioned the pressure of public debt and the need for NBR to improve its revenue collection efforts, pledging to make the organisation's laws more business-friendly to boost confidence in the tax system.

The government's focus on reducing waste and increasing internal revenue comes at a crucial time as Bangladesh faces mounting financial pressures. The steps outlined aim to address these challenges by ensuring better financial management and promoting trust among taxpayers.

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