Economic Reporter :
Finance Minister Abul Maal Abdul Muhith on Thursday called upon the National Board of Revenue (NBR) to set a fixed ‘one-day’ to pay tax across the country.
“If NBR fixes a day, people will be able pay tax on the day,” the minister said this as the chief guest at the launching ceremony of the three-day long income tax fair at the Officers Club in the city.
NBR is organising the tax fair in seven divisional headquarters — Dhaka, Chittagong, Khulna, Rajshahi, Sylhet, Barisal and Rangpur. The fair will continue in the Officers Club premises and in the income tax zone-9 commissioner’s office. In other divisional headquarters — Chittagong, Khulna, Rajshahi, Sylhet, Barisal and Rangpur, the fair will continue on the respective income tax commissioner’s offices.
The finance minister said the fixed date for paying taxes would help realizing taxes. Mentioning the instance of the USA, where they realize tax on April 1, the minister said, “We need to build such a tradition by 2018. The time will not be extended and the day will be a public holiday.”
He further said income return form has been prepared easier to understand. He, however, also said the process needs to make hassle free so that people get interest in paying taxes.
He thanked the NBR for their rising rate of tax procurement in the last six years that made reaching government services to people easier.
The finance minister handed over the CIP (Commercial Important Person) cards among the four NRBs (Non Resident Bangladeshis) for their contribution to invest their hard earned money in the country.
They invested $1 million respectively in US dollar Premium Bond and US Dollar Investment bond.
Economic Relation Division under the Finance Ministry is providing the CIP cards to encourage other NRBs to invest in the country for the betterment of the country’s economy.
Addressing the tax fair, Bangladesh Cricket Board (BCB) President Nazmul Hasan Papon said that the taxpayers should be one crore twenty lakh. “Seven per cent of the people on an average earn $400 in a month. The number of registered taxpayers is only 20 lakh, it is very unfortunate,” he said.
Revenue collection of the NBR contributes only three per cent to the GDP, he said. “The number of taxpayers is very low compared with the developed countries. The area of tax net should be increased to implement the annual development programmes of the government,” said Papon.
He appreciated the NBR for taking such kind of initiative, which would encourage people to pay their taxes. He suggested the NBR officials to become cooperative minded with the taxpayers to provide hassle free services. The best service of the NBR officials will encourage people to pay taxes for the betterment of the country, he said.
Presiding over the ceremony, NBR Chairman Nojibur Rahman said that the aim of the fair is to encourage people for paying income tax to widen the tax net.
The fair is providing one-stop services, including registration of electronic taxpayers’ identification number (eTIN), submission of income tax returns and online payment facilities.
NBR member (tax administration and human resources management) Abdur Razzaque said that during the nationwide weeklong fair in September, the NBR collected Tk 2,035.32 crore as income tax and received 161,000 income tax returns. The fair provided service to around 758,000 visitors across the country.
Finance Minister Abul Maal Abdul Muhith on Thursday called upon the National Board of Revenue (NBR) to set a fixed ‘one-day’ to pay tax across the country.
“If NBR fixes a day, people will be able pay tax on the day,” the minister said this as the chief guest at the launching ceremony of the three-day long income tax fair at the Officers Club in the city.
NBR is organising the tax fair in seven divisional headquarters — Dhaka, Chittagong, Khulna, Rajshahi, Sylhet, Barisal and Rangpur. The fair will continue in the Officers Club premises and in the income tax zone-9 commissioner’s office. In other divisional headquarters — Chittagong, Khulna, Rajshahi, Sylhet, Barisal and Rangpur, the fair will continue on the respective income tax commissioner’s offices.
The finance minister said the fixed date for paying taxes would help realizing taxes. Mentioning the instance of the USA, where they realize tax on April 1, the minister said, “We need to build such a tradition by 2018. The time will not be extended and the day will be a public holiday.”
He further said income return form has been prepared easier to understand. He, however, also said the process needs to make hassle free so that people get interest in paying taxes.
He thanked the NBR for their rising rate of tax procurement in the last six years that made reaching government services to people easier.
The finance minister handed over the CIP (Commercial Important Person) cards among the four NRBs (Non Resident Bangladeshis) for their contribution to invest their hard earned money in the country.
They invested $1 million respectively in US dollar Premium Bond and US Dollar Investment bond.
Economic Relation Division under the Finance Ministry is providing the CIP cards to encourage other NRBs to invest in the country for the betterment of the country’s economy.
Addressing the tax fair, Bangladesh Cricket Board (BCB) President Nazmul Hasan Papon said that the taxpayers should be one crore twenty lakh. “Seven per cent of the people on an average earn $400 in a month. The number of registered taxpayers is only 20 lakh, it is very unfortunate,” he said.
Revenue collection of the NBR contributes only three per cent to the GDP, he said. “The number of taxpayers is very low compared with the developed countries. The area of tax net should be increased to implement the annual development programmes of the government,” said Papon.
He appreciated the NBR for taking such kind of initiative, which would encourage people to pay their taxes. He suggested the NBR officials to become cooperative minded with the taxpayers to provide hassle free services. The best service of the NBR officials will encourage people to pay taxes for the betterment of the country, he said.
Presiding over the ceremony, NBR Chairman Nojibur Rahman said that the aim of the fair is to encourage people for paying income tax to widen the tax net.
The fair is providing one-stop services, including registration of electronic taxpayers’ identification number (eTIN), submission of income tax returns and online payment facilities.
NBR member (tax administration and human resources management) Abdur Razzaque said that during the nationwide weeklong fair in September, the NBR collected Tk 2,035.32 crore as income tax and received 161,000 income tax returns. The fair provided service to around 758,000 visitors across the country.
