DHAKA, May 20, (V7N)— National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan said today that the upcoming national budget will focus on building a more business-friendly tax environment by simplifying tax laws and reducing unreasonable tax burdens.

“The government is committed to improving the country's business environment through simplified taxation and rational tax measures. Improving compliance and ensuring truthful financial reporting by businesses would be essential to achieving those objectives,” he said.

Khan made the comments while chairing a business session titled “Improving Financial Statement Quality: Role of CFOs, Accountants, Managements and Oversight Bodies” at the Financial Accounting and Reporting (FAR) Summit 2026 at a city hotel.

The Financial Reporting Council (FRC) organized the summit with the Institute of Chartered Accountants of Bangladesh (ICAB) and the Institute of Cost and Management Accountants of Bangladesh (ICMAB).

Panelists included Mahatab Uddin Ahmed, FCMA, Founder of Buildcon Consultants Ltd; Suraiya Zannath, FCA, Vice President; Ala Uddin, FCA, ICAB Council Member and DMD & CFO of MetLife; Zinnia T Huq, FCMA, CFO & Finance Director of Unilever Bangladesh; and Nabil J Ahmad, Executive Director of FRC.

Addressing challenges in the tax system, the NBR chief said many businesses still complain about high effective tax burdens even though corporate tax rates have dropped significantly over the years, from nearly 50 percent to around 20 percent.

He said part of the issue stems from inaccurate and manipulated financial reporting, which often pushes revenue authorities to use discretionary assessments and policy measures to recover potential losses.

Widespread underreporting of turnover and omission of cash transactions remain major concerns in corporate reporting, creating friction between taxpayers and tax officials, he noted.

Khan said dishonest financial disclosures not only reduce government revenue but also create unfair competition by letting non-compliant businesses evade taxes while compliant taxpayers are disadvantaged.

He stressed that transparent and accurate financial statements are key to a fair taxation system, protecting investors, strengthening banking stability, and restoring confidence in the broader economy.

He also highlighted the need to strengthen the FRC to improve oversight and accountability in financial reporting nationwide.

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