THE countrywide ‘Income Tax Fair -2018’ has already drawn a huge crowd. The authorities hope more people would be brought under tax net this year too. Finance Minister AMA Muhith while inaugurating the fair said out of country’s 16 crore population, the number of taxpayers is around one crore. There were more than 3 crore people who are eligible to pay income tax, he mentioned.
In the last three years, the central fair had taken place at NBR’s own office in the city’s Agargaon area. This year, the venue has been shifted to Officers’ Club to accommodate larger gathering. However, the duration of the countrywide fair at the district level has been fixed for four days between 13 and 19 November, in 32 upazilas for two days and in 70 upazilas for a day.
This is obviously encouraging that taxpayers are getting all services under one roof, such as bank booths, assistance centres, and separate booths for the women, physically challenged, freedom fighters and elderly taxpayers. They could submit their returns through online and e-filing systems while separate booths are there for ensuring e-payment. Meanwhile, November 30 has been fixed as the last day for submission of income tax return for individual taxpayers.
The National Board of Revenue (NBR) has more than 37 lakh registered taxpayers, which is more than two percent of the total population of 16 crore. Three years ago, the number of Taxpayer’s Identification Numbers (TIN) was just half of today’s figure (20 lakh). NBR plans to increase the figure up to 35 lakh. Tax return submissions shot up 33 percent year-on-year to 18 lakh in the last fiscal year. What is significant is that, the NBR had also got a huge response in 2017 and 2016. In fact, all the previous tax fairs had ended with the collection of huge revenues.
Income tax is a prime source of the government’s revenue. Government spends the money for country’s development and maintaining different state machineries like law enforcement agencies and civil administration. But most of our people don’t know why they should pay it. Rather some of them are afraid of paying income tax. It’s NBR’s duty to clear the matter to common people. It should take mass awareness programme so that the eligible taxpayers would get encouragement to pay their income taxes regularly.
In the last three years, the central fair had taken place at NBR’s own office in the city’s Agargaon area. This year, the venue has been shifted to Officers’ Club to accommodate larger gathering. However, the duration of the countrywide fair at the district level has been fixed for four days between 13 and 19 November, in 32 upazilas for two days and in 70 upazilas for a day.
This is obviously encouraging that taxpayers are getting all services under one roof, such as bank booths, assistance centres, and separate booths for the women, physically challenged, freedom fighters and elderly taxpayers. They could submit their returns through online and e-filing systems while separate booths are there for ensuring e-payment. Meanwhile, November 30 has been fixed as the last day for submission of income tax return for individual taxpayers.
The National Board of Revenue (NBR) has more than 37 lakh registered taxpayers, which is more than two percent of the total population of 16 crore. Three years ago, the number of Taxpayer’s Identification Numbers (TIN) was just half of today’s figure (20 lakh). NBR plans to increase the figure up to 35 lakh. Tax return submissions shot up 33 percent year-on-year to 18 lakh in the last fiscal year. What is significant is that, the NBR had also got a huge response in 2017 and 2016. In fact, all the previous tax fairs had ended with the collection of huge revenues.
Income tax is a prime source of the government’s revenue. Government spends the money for country’s development and maintaining different state machineries like law enforcement agencies and civil administration. But most of our people don’t know why they should pay it. Rather some of them are afraid of paying income tax. It’s NBR’s duty to clear the matter to common people. It should take mass awareness programme so that the eligible taxpayers would get encouragement to pay their income taxes regularly.
