BSS, Dhaka

The National Board of Revenue (NBR) is going to introduce a year-round, quarterly tax return submission system starting from the upcoming fiscal year 2026-27 as part of a comprehensive reform suite designed to drive Bangladesh’s transition into a welfare state, said its Chairman Md Abdur Rahman Khan yesterday.

He announced the initiative during a pre-budget meeting, noting that the new system aims to revolutionise tax compliance while bolstering national revenue through structural changes, including the reintroduction of wealth tax and the potential launch of an inheritance tax.

The Newspaper Owners’ Association of Bangladesh (NOAB) and the Association of Television Channel Owners (ATCO) placed their proposals at the pre-budget meeting for the fiscal year 2026-27 at the NBR headquarters.

Khan outlined the mechanism for the year-round submission system, which will be categorised into four distinct periods where taxpayers receive incentives in the first quarter, pay regular rates in the second quarter, and face progressively higher costs or surcharges for filings made during the third and fourth quarters.

Highlighting the strategic vision behind these reforms, the NBR chief stated that the current revenue-to-GDP ratio is insufficient to meet the massive demand for social safety nets, operational budgets, and employment-generating infrastructure.

He emphasised that the reintroduction of wealth tax is specifically intended to ensure those with a greater ability to pay contribute more to the national exchequer.

“While the government is committed to transforming Bangladesh into a welfare state, the current revenue generation is insufficient to meet the massive demand for social safety nets, operational budgets, and employment-generating infrastructure,” he said.

To support these goals, he said, the NBR is leveraging advanced technological integration and Artificial Intelligence (AI) to curb evasion.