FROM PAGE B1

“By trying to make the numbers add up through taxation, you cannot bring about any real change,” he said.

That is precisely why policymakers are now speaking of the need for a qualitative transformation, one that moves beyond bureaucratic entanglements, arbitrary target-setting and reactive tax measures.

If pursued properly, the ongoing reform efforts could provide Bangladesh with an opportunity to rebuild a more rational, efficient and credible tax system.

Unless the country can break free from this pattern of “big budgets and bigger revenue deficits”, the ritual will continue unchanged. Targets will rise, collections will fall short, deficits will deepen, and next year, someone will once again sit down, sharpen a pencil, and write an even bolder number than before.