Badrul Ahsan :
The National Board of Revenue (NBR) has decided to introduce Tax Information Retrieval System (TIRS) soon, with an aim to prevent the cases of tax evasion and tax identification number (TIN) fraudulence, sources said.
The new system will also help the tax authority to increase a significant amount of revenue collection every year, they added.
“With this process, it’ll be possible to detect tax evasion cases and TIN fraudulence and deal with other tax-related issues. We’ll also be able to identify new taxpayers with it,” a senior official at the NBR told The New Nation on Thursday preferring anonymity.
To make this happen, he said, the NBR will collect information from ‘third party’ like the Bangladesh Road Transport Authority (BRTA), Election Commission (EC), Land Registration Division, Rajdhani Unnayan Kartripakkha (Rajuk), Chittagong Development Authority (CDA) and organisations like that.
“If this can properly be implemented it’ll be very much effective for netting new taxpayers along with taking information of the existing ones,” the official said.
He mentioned that this system is currently practiced worldwide as the door-to-door survey system is considered to have become obsolete.
According to him, this system will help the revenue collecting authority fetch more revenues in the coming days, as it has got a gigantic target of Tk 176,370 crore revenue collection for the fiscal year 2015-16 against Tk 135,028 last year.
This year, the target was set to collect Tk 64,971 crore from income tax, while Tk 64,262 crore from VAT and Tk 18,752 from import duty. The target for export duty has been fixed at Tk 37 crore, excise duty at Tk 1,239 crore and supplementary duty at Tk 25,875.
According to official data, the number of TIN or e-TIN holders in the country is 18,61,682. Of them 17,76,401 are individual taxpayers.
In the fiscal year 2014-15, some 10,40,354 people submitted their income tax returns while the number of companies submitted tax returns is 23,011.
As the Tax Information Retrieval System (TIRS) has been an initiative of Central Survey Zone, the NBR has intended to safely exchange the taxpayer’s information electronically between stakeholders and taxes circle’s communities.
The main functionalities of the Central Survey Zone (CSZ) are to conduct and monitor survey programme across the country to increase the income tax base and identify new prospective taxpayers.
The target of this software is to reduce the manual filing and record-keeping process, as well as improve the operational efficiency along with availability of data in the quickest possible time.
Thus, it will improve the effectiveness and performance efficiency of CSZ employees.
This system also targets to collect information correctly and speedily from different stakeholders on a weekly, quarterly, monthly or yearly basis.
The system is expected to generate all the required reports to help the authority to settle issues in time.
The National Board of Revenue (NBR) has decided to introduce Tax Information Retrieval System (TIRS) soon, with an aim to prevent the cases of tax evasion and tax identification number (TIN) fraudulence, sources said.
The new system will also help the tax authority to increase a significant amount of revenue collection every year, they added.
“With this process, it’ll be possible to detect tax evasion cases and TIN fraudulence and deal with other tax-related issues. We’ll also be able to identify new taxpayers with it,” a senior official at the NBR told The New Nation on Thursday preferring anonymity.
To make this happen, he said, the NBR will collect information from ‘third party’ like the Bangladesh Road Transport Authority (BRTA), Election Commission (EC), Land Registration Division, Rajdhani Unnayan Kartripakkha (Rajuk), Chittagong Development Authority (CDA) and organisations like that.
“If this can properly be implemented it’ll be very much effective for netting new taxpayers along with taking information of the existing ones,” the official said.
He mentioned that this system is currently practiced worldwide as the door-to-door survey system is considered to have become obsolete.
According to him, this system will help the revenue collecting authority fetch more revenues in the coming days, as it has got a gigantic target of Tk 176,370 crore revenue collection for the fiscal year 2015-16 against Tk 135,028 last year.
This year, the target was set to collect Tk 64,971 crore from income tax, while Tk 64,262 crore from VAT and Tk 18,752 from import duty. The target for export duty has been fixed at Tk 37 crore, excise duty at Tk 1,239 crore and supplementary duty at Tk 25,875.
According to official data, the number of TIN or e-TIN holders in the country is 18,61,682. Of them 17,76,401 are individual taxpayers.
In the fiscal year 2014-15, some 10,40,354 people submitted their income tax returns while the number of companies submitted tax returns is 23,011.
As the Tax Information Retrieval System (TIRS) has been an initiative of Central Survey Zone, the NBR has intended to safely exchange the taxpayer’s information electronically between stakeholders and taxes circle’s communities.
The main functionalities of the Central Survey Zone (CSZ) are to conduct and monitor survey programme across the country to increase the income tax base and identify new prospective taxpayers.
The target of this software is to reduce the manual filing and record-keeping process, as well as improve the operational efficiency along with availability of data in the quickest possible time.
Thus, it will improve the effectiveness and performance efficiency of CSZ employees.
This system also targets to collect information correctly and speedily from different stakeholders on a weekly, quarterly, monthly or yearly basis.
The system is expected to generate all the required reports to help the authority to settle issues in time.
