Stephen Flynn, vice chairman of the company, says the council is wasting their time issuing penalties for the distinctive black hackney vehicles which then have to be appealed.
Cameras on 15 lanes across the city snap cars caught illegally using them and send an image of the contravention to the registered owner, asking them to pay a £60 fine which is reduced to £30 is paid within 14 days.
Taxis are allowed to use the lanes, along with buses, but this hasn't stopped them also being issued with fines, said Mr Flynn.
He told the Evening Times that the bus lane scheme in the city, which we told you earlier this week generated more than £2.5million in fines from 101,187 drivers last year, has become a "revenue generation tool".
The senior boss at Glasgow Taxis - the largest suppl ier of licensed taxis in the city and the biggest in the UK outside London - said the city council could should put its time to better use addressing more pressing public transport concerns.
Mr Flynn said: "There is no doubt that bus lanes can provide an effective way of curbing congestion at peak times.
"However, it has become increasingly clear to us that the enforcement of bus lanes could be better implemented in Glasgow - there is the regular issue of parked vehicles in bus lanes for a start.
"Also, despite being allowed to drive in bus lanes, our drivers are often served with notices.
"Not only is this an inefficient use of the council's time but also of ours - and it is so easily avoided if the correct checks are put in place."
Mr Flynn added: "Beyond this, we believe the council's time could be better served addressing more pressing public transport issues, including the provision of sufficient space for taxi ranks and adequate parking in the city centre, rather than on the revenue generation tool that the enforcement of bus lanes has become."