No alternative to automation to increase revenue: State Minister

State Minister for Finance Waseqa Ayesha Khan said there is no alternative to automation to increase revenue.

She said, "Nowadays everyone can submit returns online. Since the informal sector of Bangladesh is very large, tax collection from this sector is important. In this regard, the private sector can help us along."

Waseqa Ayesha Khan said at a discussion titled 'Bangladesh's Domestic Resource Mobilisation: Imperatives and a Roadmap' organized by PRI in Dhaka today (30 April).

Advisor to the Prime Minister on Economic Affairs Mashiur Rahman chaired the event where National Board of Revenue Chairman Abu Hena Md Rahmatul Muneem and Federation of Bangladesh Chambers of Commerce and Industries President Mahbubul Alam were present as special guests. The main article was presented by PRI Executive Director Ahsan H Mansur.

The Minister of State for Finance said, "In addition to discussing money market, private and public debt, there is a need to discuss more about the capital market. Everyone should try to see how more and better companies come to the market. Then the pressure on money market will be reduced. Capital market, equity market And it's important to grow the bond market."

NBR Chairman Abu Hena Md Rahmatul Munim emphasized the establishment of Made in Bangladesh in the event. He said, "I feel sad when I see products from other countries in the country's market. NBR released a lot of money to support the industry. Despite the loss of revenue, the country's employment and industry have developed. Support is still being given to find and find production-oriented sectors to advance the Made in Bangladesh concept."

Meanwhile, FBCCI President Mahbubul Alam said, “Businessmen want to pay tax, but do not want any suffering. The informal sector should be brought into the formal sector. Apart from Dhaka-Chittagong, trade is now spread at the district-upazila level. They should be taxed.”

He suggested identifying new taxpayers without putting too much pressure on taxpayers. Besides, this business leader thinks that there is no alternative to automation.