Online tax returns can bring $32b extra revenues annually: CPD

Bangladesh can raise $32.6 billion annually by digitalizing tax returns within four years, says the Centre for Policy Dialogue (CPD). This amounts to 5% of the nation’s GDP. Digitalizing the taxation system can gradually enhance the tax revenue-to-GDP ratio to 16% by FY2029-30, generating $167 billion in tax revenue. Bangladesh’s revenue-to-GDP ratio declined from 10.99% in FY2010 to 8.26% in FY2023, lower than its neighbors, leading to increased loan dependence.PHOTO:Daily Star