He highlighted the need to enhance the government's capacity to tap more revenue and expand the formal economy as he rolled out a Tk 6.78 trillion national budget on Thursday.
"Compared to other developing and developed countries, the tax-GDP ratio of Bangladesh is not that encouraging. It is essential to raise our tax-GDP ratio significantly in order to support our graduation to a developed country," the minister said.
Kamal also recommended the introduction of a similar provision against VAT defaulting entities by amending the existing rules as part of the efforts to increase revenue collection.
"I propose to insert a provision in the law that VAT officials may request the concerned authorities to disconnect the electricity, gas and water connection of the VAT defaulting business entities."