NBR to go tough on errant businessmen | 2017-08-29 | daily-sun.com

NBR to go tough on errant businessmen

UNB     29th August, 2017 01:48:37 printer

NBR to go tough on errant businessmen

The National Board of Revenue (NBR) has asked its field level offices to be harsher on the businessmen who try to evade taxes, aiming to improve the revenue collection in the coming days.


It also directed the field level officials to provide all out cooperation to the honest business entities which pay taxes regularly.


The directives came from NBR chairman M Nojibur Rahman in a recent meeting with the field level officials to find out a work plan of revenue collection at the conference room of the NBR.


“We have to be harsh on the errant taxpayers, there is no other way to encourage the honest taxpayers,” a senior official of the NBR told UNB.


He said that for boosting revenue collection the NBR always maintains zero tolerance to the tax evaders. “This also encourages the honest and regular taxpayers.”


He said that the NBR chairman also directed the field level offices to deposit the collected revenue to the national exchequer in right time for getting better view of the revenue collection in the current fiscal year.


The NBR chairman also directed his fellowmen to take prompt action after getting any complaint of tax, duty and VAT evasion.


He asked the field level officials to avoid complexities of system for avoiding revenue related cases and put importance on Alternative Dispute Resolution (ADR) to settle revenue related debate.


“We are in an uncomfortable position this fiscal as we have huge target that was fixed keeping in mind the new unified 15 percent VAT law. But the law was suspended for two years whereas the target still remains the same,” the NBR official said.


He said that the NBR will not get at least Tk 20,000 crore due to the suspension of the VAT law.


Prime Minister Sheikh Hasina on July 13 in Parliament had told that the government has to do something to fill up the huge revenue deficit.


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 sources said that already the NBR has formulated the budget implementation plan (BIP) for each of its wings. Besides, it also prepared the work based target for monitoring of each offices during the 2017-18 fiscal and formulated annual performance agreement (APA) to achieve the target.