The Institute of Chartered Accountants of Bangladesh (ICAB) has emphasised the importance of coordinated action and effective reform implementation to achieve the government's ambitious revenue collection target for fiscal year 2026-27.
Presenting its assessment of the proposed national budget at a press conference in Dhaka on Saturday, the professional body said the budget reflects the government's commitment to maintaining economic stability, expanding investment, generating employment, strengthening the private sector, and increasing domestic revenue mobilisation.
ICAB noted that the global economic environment remains uncertain due to geopolitical tensions, continuing conflicts in different regions, volatility in energy markets, inflationary pressures, supply chain disruptions, and sluggish international trade. Despite these challenges, the organisation observed that the government has proposed an ambitious development agenda, including an Annual Development Programme (ADP) of Tk3.16 lakh crore aimed at supporting long-term economic growth and national development.
However, speakers at the event cautioned that achieving the revenue collection target of Tk6.95 lakh crore would require significant improvements in tax administration, stronger institutional coordination, and the successful implementation of ongoing reform initiatives.
The institute also expressed concern over the proposed financing of the budget deficit. According to ICAB, the government's plan to rely partly on domestic bank borrowing could reduce the availability of credit to private businesses and potentially affect investment activities.
ICAB President NKA Mobin said the budget places considerable emphasis on tax modernisation, digital transformation, business-friendly policies, and improving the investment climate. He stressed that increasing the tax-to-GDP ratio and ensuring greater transparency and accountability in the tax system are essential for sustaining economic growth.
The institute highlighted the success of the Document Verification System (DVS), a joint initiative of the National Board of Revenue (NBR) and ICAB, which has helped strengthen transparency, reduce tax evasion, and improve revenue collection. Mobin expressed confidence that the system would play an even more significant role in the future.
ICAB also welcomed the inclusion of several recommendations it had submitted to the government regarding tax, VAT, customs, and related regulatory frameworks. According to the institute, these measures are expected to simplify compliance procedures, improve the ease of doing business and enhance investor confidence.
The organisation further underscored the role of chartered accountants in supporting economic development through financial reporting, auditing, tax compliance, corporate governance and investor assurance. It said collaboration among the government, business community, and professional bodies will be essential to building a stronger, more resilient and sustainable economy in the years ahead.
