Finance Minister AHM Mustafa Kamal has called for measures to empower the authorities to snap the utility connections, such as gas, electricity and water, to those who fail to pay undisputed taxes.
He highlighted the need to enhance the government's capacity to tap more revenue and expand the formal economy as he rolled out a Tk 6.78 trillion national budget on Thursday, reports bdnews24.com.
"Compared to other developing and developed countries, the tax-GDP ratio of Bangladesh is not that encouraging. It is essential to raise our tax-GDP ratio significantly in order to support our graduation to a developed country," the minister said.
Kamal also recommended the introduction of a similar provision against VAT defaulting entities by amending the existing rules as part of the efforts to increase revenue collection.
"I propose to insert a provision in the law that VAT officials may request the concerned authorities to disconnect the electricity, gas and water connection of the VAT defaulting business entities."
