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Carbon tax can juice up BD GDP: WB

MNA Business Desk: Bangladesh can boost its tax-GDP ratio by around 10 per cent by introducing carbon tax in the country, a recent World Bank study has said.

Such type of tax can help the country reduce environmental damage while raising additional resources for development, the bank said.

“Carbon taxes could be a significant revenue source for the government,” said the WB study.

“Carbon taxes could rise up to 1.0 per cent of GDP, at $ 30 per kilo of CO2 equivalent. This is no small amount for a country that usually collects a little over 10 per cent of GDP – an increase of close to 10 per cent”, it added.

The World Bank study comes at a time when Bangladesh’s extreme vulnerability to climate change is becoming a growing concern, reported news agency.

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