Wednesday 14 November 2018 ,
Wednesday 14 November 2018 ,
Latest News
  • BNP’s demand for polls deferment unrealistic: Quader
  • Keep aside 33 pc nominations for women: Leaders
  • BNP submits another list of 1,002 ‘fictitious cases’ to PMO
  • AL to interview its nomination seekers Wednesday
  • No way to defer election date further: CEC
  • Oikyafront to meet EC Wednesday seeking polls deferment
  • Technocrat ministers’ resignation to ‘take effect once PM accepts’
  • New election date aimed at keeping foreign observers at bay: BNP
  • Rohingya refugees flee camps to avoid return to Myanmar
10 November, 2018 12:10:31 AM / LAST MODIFIED: 10 November, 2018 08:05:53 AM
Print

Govt plans reforms in NBR

Bid to boost revenue
UNB, Dhaka
Govt plans reforms in NBR

The government has taken an initiative to bring infrastructural reforms in the Internal Resources Division (IRD) and create new units at the National Board of Revenue (NBR) to boost revenue collection.

According to the IRD of the Finance Ministry, through the reforms in its special functional unit and creating new units under the NBR Income Tax Wing, it will be possible for the government’s revenue collecting body to boost revenue generation by 20 percent.

A summary of the proposals has been sent to Finance Minister ABA Muhith and he has given an affirmative response to those, Finance Ministry sources said.

They said IRD Senior Secretary and NBR Chairman Md Mosharraf Hossain Bhuiyan recently placed the proposals before the finance minister when he underscored the need for further scrutiny of the proposals.

This reform measures include expansion of field level offices (tax offices, range and circle), tax appellate unit, and necessary infrastructural reforms of the tax wing.

Beside, the proposal includes the transformation of Tax Survey Unit into Tax Information Unit.

It also proposes the infrastructural reforms of the tax survey directorate and BCS (Tax) Academy.

The proposals mention that it needs to reform the structure of the office of the income tax along with modernisation of the tax management.

The number of members in the Income Tax Division will be 10 instead of eight as per the proposed expansion and mode of work.

The summary sent to the Finance Minister says for the sake of modernising thetax management and effective implementation of infrastructural reforms, the matter of deciding grade for

the NBR members, director general and other posts, their jurisdiction and status should be taken into consideration.

It mentions that different countries, including neighbouring India, conduct numerous search and seize operations every year along with lodging prosecution cases.

Through this, the dodged taxes can be collected apart from establishing a culture of tax payment in the society.

Although most of the countries have separate administrative unit for conducting investigation and prosecution activities apart from tax intelligence unit, the income tax wing of the country has no separate unit.

The proposals mention that it is necessary to have a separate active unit for effectively conducting e-registration, e-return filing, e-payment and other e-tax activities.

Although Bangladesh has introduced e-TIN registration, e-filing and e-payment activities, there is no functional unit so far formed to conduct these activities as well as management. As a result, the e-tax activities cannot be conducted properly.

In the summary, it was mentioned that if the proposal can be implemented, the number of enlisted taxpayers will be 1 crore by 2022-23 fiscal year.

Besides, the tax-GDP ratio will be 16 percent from the existing single digit in the mid term while 20 percent in the long term.

Side by side, it will be possible to maintain the 20 percent or more growth in the coming days.

EA

 

Comments

Poll
Today's Question »
Citing constitutional obligation, Chief Elelction Commissioner Nurul Huda yesterday said there was no scope to defer the voting date again. Do you agree?
 Yes
 No
 No Comment
Yes 22.6%
No 74.4%
No Comment 3.0%
Video
More Business Stories

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting