Complete Automation of Bond Facility by 2023: NBR Chairman

National Board of Revenue (NBR) chairman Abu Hena Md Rahmatul Muneem said that the bond facility will be completely automated by 2023 so that no one can gain illegal benefits from the system.

He made the remarks today at a pre-budget discussion with the members of the Economic Reporters Forum (ERF) at the NBR office in the capital.

The NBR chairman urged the concerned officials to be careful so that foreign nationals cannot join any job by arriving here on tourist visas aiming to evade the tax.

He also sought cooperation from other ministries and government agencies so that the local employers feel discouraged to employ foreign nationals, those who come here with tourist visas.

At the program, ERF President Sharmeen Rinvy and General Secretary SM Rashidul Islam placed a set of recommendations for the next budget for fiscal 2022-23.

The NBR chairman expressed interest in protecting local industries in the forthcoming budget.

He said that support for local industries, especially for those who produce consumer goods, would be in consideration in the next budget like previous years.

"We don't want consumer goods to be imported from China, Taiwan, or any other country," he said adding, "It's a shame that these products sometimes have to be brought from Pakistan."

However, noting that support does not always yield good results, the NBR chairman said, "It often makes one dependent and weak. Therefore, impact analysis will be done after facilitating necessary support."

When asked about backing sectors outside of the RMG, he said, "We are struggling to cope with what has already been offered. People are misusing our bond facilities. This will be hard to eradicate."

Among others, senior NBR officials also spoke at the event.