Dhaka: Finance Adviser Dr. Salehuddin Ahmed has emphasized that enhancing the efficiency of the National Board of Revenue (NBR) is crucial for the growth of businesses in the country. At a seminar on ‘Reforms in Customs, Income Tax, and VAT Management to Address the LDC Graduation Challenges,’ held at the NEC Conference Room in Sher-e-Bangla Nagar, Dr. Ahmed highlighted the need for boosting local business competitiveness as Bangladesh prepares for its upcoming graduation from the Least Developed Country (LDC) status.
According to Bangladesh Sangbad Sangstha, the event was organized by the Support to Sustainable Graduation Project (SSGP) of the Economic Relations Division (ERD). Commerce Adviser Sk. Bashir Uddin and NBR Chairman Md. Abdur Rahman Khan were among the special guests, with ERD Secretary Md. Shahriar Kader Siddiky chairing the seminar. Dr. Ahmed stressed that the private sector must work alongside the government to meet the challenges associated with LDC graduation, and he underscored the effective implementation of the Smooth Transition Strategy (STS).
Commerce Adviser Sk. Bashir Uddin also emphasized increasing the efficiency of local businesses to face these potential challenges. He advocated for bringing small and medium enterprises into the VAT net and introducing a uniform tax rate system. NBR Chairman Md. Abdur Rahman Khan discussed reducing tax expenditure and announced that the National Single Window would become fully operational by March, with plans to automate the entire tax system soon.
ERD Secretary Md. Shahriar Kader Siddiky reinforced the government’s commitment to implementing the STS effectively and on time, citing that more stakeholder consultations will be organized for its successful rollout. Other notable attendees included Rear Admiral S M Moniruzzaman, Members of NBR, and representatives from the private sector. The seminar also featured a keynote presentation by Dr. Mostafa Abid Khan, who referenced the World Development Indicators 2023 by the World Bank, highlighting the higher costs of import and export in Bangladesh compared to regional counterparts.
Dr. Khan noted that improving customs clearance efficiency could significantly enhance the country’s export performance and domestic product competitiveness. The seminar aimed to develop a roadmap for implementing customs, VAT, and income tax reforms in line with recommendations from STS and various LDC graduation-related discussions.
The event underscored the urgency of reforms as Bangladesh is set to graduate from LDC status on November 24, 2026, which will lead to the gradual loss of International Support Measures, including duty-free and quota-free market access in some major export markets. The STS outlines priority actions for increased revenue mobilization, timely implementation of the National Tariff Policy 2023, and fulfilling WTO commitments, among others. Senior officials, trade association representatives, and think tanks attended the seminar to discuss these critical issues.