The Asian Development Bank is to provide 25 million dollars to Bangladesh to help it digitise its tax collection and land record systems in an effort to increase fiscal revenue, officials said Sunday.
"Electronic tax return filing has shown to increase compliance and to boost government revenues, while digitising land documents will help reduce inaccurate records which are a key source of land disputes," said Thevakumar Kandiah, country director of the bank in Bangladesh after signing a deal with Bangladesh government.
The Manila-based multilateral finance institution signed the agreement for disbursement of the soft loan along with a technical assistance grant worth 800,000 dollars for capacity building of the country's existing agencies.
The project will help introduce online filing of tax returns in the impoverished nation.
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