Staff Reporter :
A week-long income tax fair begins today (Tuesday) in Dhaka city and seven divisional headquarters of Bangladesh with a slogan “we’ll all make tax payment and build the country self reliant”. Finance Minister AMA Muhith will inaugurate the fair at the under-construction Agargaon National Board of Revenue (NBR) building in the capital. The fair will open at 10:00am to 5:00pm every day till November 5.
The main objective of the fair is to encourage people to pay their taxes as per government rule. Visitors will also be able to learn some basic rules of filing tax return in the fair.
The fair is organised every year but this year it is delayed to coincide with taxpayers’ week. This year, the taxpayers will also be able to file tax returns online from the fair for the first time.
The income tax fair at the district level will be held on any four days of the week, while a one- or two-day fair will be held in 86 upazilas during the period.
The NBR has completed all the necessary preparations to hold its annual week-long income tax fair.
It collected Tk 20.35 billion (2035.32 crore) as revenue from the week-long fair last year. Some 757,754 taxpayers got various services from the fair whereas a number of 161,060 taxpayers submitted their income tax returns in the fair.
This year, the NBR will collect income tax returns in both old and new formats.
To reduce the hassles of the taxpayers, the NBR simplified the income tax return form from this fiscal. Instead of the eight-page form, the taxpayers from this year will fill up a three-page one in the new format.
November 30 will be the last date for the submission of income tax returns unlike the previous years when September 30 was the last date for the submission.
According to sources at the NBR, interest will be imposed on the income tax returns that will be submitted after November 30.
On the other hand, Cabinet at meeting on Monday approved the draft of the amended National Tax Card Policy- 2010 that proposes expanding the number of tax card holders 125 from 20.
The cabinet took the decision with Prime Minister Sheikh Hasina in the chair. Cabinet Secretary M Shafiul Islam briefed reporters after the meeting. The draft proposes 64 tax card holders under personal category, 50 under organisation and the rest under other categories.
Those top taxpayers, who will receive the cards, will be eligible for privileges and facilities everywhere, including access into the VIP lounges of all institutions.
Alongside, compared to last year, revenue increased 19 per cent, exports increased 9.77 per cent, foreign currency reserve increased over 20 per cent and power capacity over 15 per cent.
