Economic Reporter :
The National Board of Revenue (NBR) has taken a move to collect income tax information of private sector employees every year.
The revenue collecting authority plans to plug the loopholes of tax evasion and increase the number of income taxpayers along with the amount.
The NBR has already inducted a new clause in the Income Tax Ordinance in this regard.
In the 108 (A) clause, it said each year in April all the appointing organisations have to submit the income tax information of their employees.
Currently, the organisations are submitting the statements and details of tax collection at source.
The pay-roll tax deducted from the salaries and wages of the employees will have be stated in details as per the new clause and be submitted once a year.
As per the NBR statistics, three per cent of income tax, which is known as direct tax, comes from this pay-roll tax.
The appointing authority of an organisation deducts the tax at source every month from the salaries and wages of its employees.
Later, this collected money is deposited to the NBR.
An NBR senior official said this move will help the revenue collecting authority to find out more taxpayers in the coming days in addition to detecting tax evasion by any organisation.
“This move, called internal survey, will be able to detect any kind of evasion and bring more taxpayers under the tax net,” he said.
Currently, the number of e-TIN holders in the country is more than 3.5 million and the government wants to take the number to 10 million in the next five years as Finance Minister AMA Muhith said in his budget speech.
The National Board of Revenue (NBR) has taken a move to collect income tax information of private sector employees every year.
The revenue collecting authority plans to plug the loopholes of tax evasion and increase the number of income taxpayers along with the amount.
The NBR has already inducted a new clause in the Income Tax Ordinance in this regard.
In the 108 (A) clause, it said each year in April all the appointing organisations have to submit the income tax information of their employees.
Currently, the organisations are submitting the statements and details of tax collection at source.
The pay-roll tax deducted from the salaries and wages of the employees will have be stated in details as per the new clause and be submitted once a year.
As per the NBR statistics, three per cent of income tax, which is known as direct tax, comes from this pay-roll tax.
The appointing authority of an organisation deducts the tax at source every month from the salaries and wages of its employees.
Later, this collected money is deposited to the NBR.
An NBR senior official said this move will help the revenue collecting authority to find out more taxpayers in the coming days in addition to detecting tax evasion by any organisation.
“This move, called internal survey, will be able to detect any kind of evasion and bring more taxpayers under the tax net,” he said.
Currently, the number of e-TIN holders in the country is more than 3.5 million and the government wants to take the number to 10 million in the next five years as Finance Minister AMA Muhith said in his budget speech.
