Bangladesh Halts IMF-Backed Tax Reform Ordinance

Bangladesh’s interim government has postponed a tax reform ordinance and pledged to strengthen the National Board of Revenue, following days of protests by tax officials, according to a statement from the finance ministry.

• The ordinance that seeks to separate tax policy from revenue administration will not come into effect until necessary amendments are made, the finance ministry said Sunday night
• Govt plans to finalize revisions by July 31 after consultations with the tax authority, a revenue reform advisory committee and other key stakeholders
• Govt also plans to elevate the NBR to the status of a “distinct and specialized division” under ...