NBR to expedite ADR process to boost revenue collection | daily-sun.com

NBR to expedite ADR process to boost revenue collection

Sun Online Desk     23rd August, 2017 04:18:26 printer

NBR to expedite ADR process to boost revenue collection

The National Board of Revenue (NBR) has decided to further strengthen and expedite its Alternation Dispute Resolution (ADR) process to increase revenue collection through settling the revenue related cases pending with various courts for years . 

 

The revenue collecting authority has taken the decision in the backdrop of the suspension of the unified 15 percent VAT for couple of years.

 

“All commissionerates have been asked to prepare a list of pending cases that can be resolved through ADR,” a senior official of the NBR informed, reports UNB.

 

According to the available data some Tk 3060.33 crore remains unrealised due to customs related cases pending with various courts including the High Court. The amount is Tk 5845.43 crore for the VAT related cases while Tk 8167.08 crore for the tax related cases.

 

He said NBR chairman Md Nojibur Rahman asked the concerned officials to take steps to expedite the Alternative Dispute Resolution (ADR) process for settling the pending cases.

 

He gave the directives during a recent review meeting with the commissioners of income tax, VAT and Customs held at the NBR headquarters.

 

At the meeting, emphasis was given on utilizing the ADR process to settle the pending cases.

As part of this initiative, separate focal point officials have been appointed for each wing, the official said wishing not to be named.

 

The NBR introduced ADR on July 1, 2012 to speed up disposal of the revenue-related cases through out-of- court settlement.

 

“The NBR has calculated the revenue target keeping the huge inflow of revenue from the VAT, but now we are not getting that support from the VAT wing as Parliament did not give us permission to impose the new VAT law,” he said.

 

Finance Minister AMA Muhith while placing his budget on June 1proposed to impose the new unified VAT rate which is 15 percent, but it caused a widespread criticism from both ruling and opposition in the House. Even Prime Minister requested the finance Minister to suspend the mplementation of the law. Later the Finance Minister suspended it for two years.

 

The NBR official said the government has not yet downsized the revenue collection target.

 

The target for the NBR in the current fiscal has been set at Tk 2,48,190 crore while the target of Non-NBR tax revenue collection has been fixed at Tk 8,662 crore. The target of non-tax revenue collection has been set at Tk 31,179 crore.

 

The NBR has to collect Tk 86,867 crore from income tax and corporate tax, Tk 91,344 crore will come from VAT while Tk 30,153 crore will come from import and export duty and Tk 38,212 crore will be generated from supplementary duty.

 

“The NBR is now under huge pressure to realize the money as the target for this year is relatively higher,” said the NBR official. He also said the NBR will leave no stone unturned to reach the target.


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