Incentives for honest traders, strict action against dishonest ones: Finance Minister Businessmen Finance Minister Abul Hasan Mahmud Ali

Incentives for honest traders, strict action against dishonest ones: Finance Minister

Bangladesh Live News | @banglalivenews | 26 Jan 2024, 11:29 pm

Own Correspondent, Dhaka, 26 January 2024: Finance Minister Abul Hasan Mahmud Ali has called for incentives for law-abiding honest businessmen to collect additional revenue. He also asked to take strict action against dishonest traders. He said these things on the occasion of International Customs Day-2024 at a function organized at the Agargaon Revenue Bhavan in the capital on Friday.

Stating that the Board of Revenue is working as the main driving force of the economic progress of the country, the Finance Minister said that the economic progress of Bangladesh is recognized by the whole world today. He said that although Bangladesh has made progress in all economic indicators, still our tax GDP ratio is not satisfactory. I hope the National Board of Revenue will try to increase the tax to GDP ratio.

Abul Hasan Mahmud Ali said that one of the main functions of customs is trade facilitation. In continuation of Smart Bangladesh announced by the Prime Minister, customs will become truly smart.

Urging to reduce the cost of import and export, he said, attention should be paid to full automation. Referring to one of the responsibilities of customs to prevent money laundering, the finance minister said that it is very important to increase the capacity of customs to fulfill this responsibility. Hope customs will pay special attention to this aspect.

In the event, World Customs Organization (WCO) 'Certificate of Merit' was awarded to 17 officers and employees of NBR and its affiliated offices and three institutions. Finance Secretary Dr. Khairuzzaman Majumdar, FBCCI President Mahbubul Alam, NBR Chairman Abu Hena Md. Rahmatul Munim and Incepta Group Chairman Abdul Muktadir were also present in the event.