National Board of Revenue (NBR) chairman M Ghulam Hossain on Wednesday said that the potential income tax payers in Bangladesh should not be less than 60 lakh considering the economic size and activities in the country. “Valid TIN holders in the country is around 20 lakh in the current fiscal of which only 12 lakh paid income tax through submitting returns… potential taxpayers should not be less than 60 lakh considering our economic size,” he said at a discussion on the proposed budget for fiscal 2013-14 at the Officers Club in the city.
Finance Minister AMA Muhith spoke as chief guest while FBCCI president Kazi Akramuddin Ahmed presided over the discussion meeting, organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
FBCCI vice president Md Helaluddin made the introductory remarks while its first vice president Monowara Hakim Ali gave the vote of thanks.
Terming the NBR’s revenue earning target of Tk 1,36,090 crore in the next fiscal year ‘not at all ambitious’, the NBR chairman said that the Board is looking forward to widening the tax net side by side giving attention to ensuring transparency, rendering prompt services and reducing hassles.
Referring to a recent survey of the NBR on the house owners in the capital, he said that out of some 60,000 houses, there were no income tax files of some 26,000 house owners. “Those house owners would have to be brought under tax net side by side the other house owners outside the capital.”
Ghulam Hossain also opined that the NBR jointly with the FBCCI could make a permanent partnership on how to widen the income tax net and proceed in future.
He urged all concerned irrespective of party and opinion to ensure an environment congenial for realizing Tk 1,36,090 crore revenue by the Board in the FY14.
Even Tk 1,50,000 crore revenue earning might be possible with congenial environment persisting in the country, hoped the NBR chairman, also the Secretary of the Internal Resources Division (IRD).
Taking a swipe at those who expressed doubts about the NBR’s capacity of realizing targeted revenue earnings, he said those who raised questions about the capability of NBR have little knowledge about this organization.
They don’t know the present state of the Board.
Ghulam Hossain mentioned that the revenue earnings in the country were doubled in the last four years,”
He also requsted the business leaders not to make sweeping remarks and criticisms about the new VAT law, rather make their suggestions and recommendations in writing about the law. (Source: UNB)
