Tax receipts fell 17,170 crore short of the goal

In order to ensure macroeconomic stability, economists advise the government to include fresh measures in the national budget for the upcoming fiscal 2023–2024 while continuing the Covid stimulus package. A wealth tax was suggested by economists as a way to lessen inequality, along with significant government involvement in healthcare and education.

The bank lending cap is being abolished as Bangladesh Bank finally resolves to reverse the crisis-era measure and grant bankers their long-desired rise in profitability. Bankers lamented the fact that are operating under two set interest brackets—rates on loans given by banks and on deposits, they accept from customers—inflationary pressure on their revenues was eroding their profit margins. The central bank will establish a market-based reference rate under the interest rate-corridor method for the banks to fix the loan rate based on the benchmark rate in place of the lending rate cap of 9.0 percent, which was imposed in April 2020, the BB sources said.

Telecommunications businesses suggested that the National Board of Revenue should lower the corporation tax rate in the national budget for the upcoming fiscal year 2023–2024 in order to assure ease of doing business. The similar demand was made by the beverage and tobacco manufacturing industries. According to them the corporate tax in Bangladesh was higher than that in the other countries.

Finance officials reported that the government's budget deficit increased in the first half of the current fiscal year due to declining income receipts, and economists do not see any improvement in the near future. According to official statistics, the budget deficit up to December was Tk 101.66 billion despite decreasing income collection. Up until November, the deficit was Tk 71.53 billion.

The Dhaka Chamber of Commerce and Industry (DCCI) has proposed the National Board of Revenue (NBR) to decrease corporate tax by 2.5 percent for non-listed companies in the upcoming fiscal year in order to foster an investment-friendly environment. It also proposed raising the tax-free income limit for people to Tk. 5 Lakh (from Tk. 3 Lakh now) in response to high inflation and rising living costs.  

Bangladesh has seen a widening budget deficit, amounting to Tk 71.53 billion during the July-November period, due to lower revenue collection. The shortfall incurred in the November tally is the first in this fiscal year. The total revenue mobilization was recorded at Tk 1.337 trillion up to November, just over 1.0 percent up from the same period a year earlier.