• Thursday, Nov 21, 2019
  • Last Update : 09:44 pm

NBR asks its intelligence wing to intensify vigilance

  • Published at 09:00 pm March 17th, 2018
NBR asks its intelligence wing to intensify vigilance
The National Board of Revenue (NBR) has asked its Investigation and Intelligence Cell (IIC), formed in each tax zone, to strengthen their vigilance and scrutiny to prevent tax evasion. "As part of the drive to catch the tax evaders, the NBR has asked the IIC to take effective steps in this regard," a senior official at NBR told UNB. Recently, the NBR has given the directive to its field level officials as the first half of the current fiscal has already elapsed. The NBR has asked the officials to audit the big taxpayers' files properly. "They'll send fortnightly reports to the Board on their activities," the NBR official said. There are 31 tax zones across the country and each tax zone has 22 circle offices which collect taxes directly. The IIC has been formed in each tax zones with commissioners of the respective tax zones. The NBR official said the aim of the IIC is to identify the evaders, individuals or organizations. "When this will be ensured, it'll be possible to increase the tax collection and people will get discouraged to evade tax," he said. He mentioned that the cell will examine the big taxpayers and find out whether there is any suppression of income, what was the declaration of income in the previous year and hold regular meetings with them. He said the revenue collecting authority is under pressure to achieve the revenue target as there is no indication from the government to reduce their target after suspending the 15 percent unified VAT system for two years, which was supposed to come into effect this fiscal year. "The NBR has calculated the revenue target keeping the huge inflow of revenue from the VAT, but now we're not getting that support from the VAT wing as Parliament didn't give us permission to impose the new VAT law," he said. While placing the report on budget implementation progress of the first quarter (July-Sept) Finance Minister AMA Muhith said the trend of income and expenditure, and macroeconomic analysis in Parliament recently did not give any indication to bring down the revenue target. The revenue target for the NBR for the current fiscal year (2017-18) was set at Tk248,190 crore while that of non-NBR tax revenue collection at Tk8,662 crore and the target of non-tax revenue collection set at Tk31,179 crore. Of the total revenue target of the NBR, Tk 91,344 crore will come from VAT while Tk86,867 crore from income tax and corporate tax, Tk30,153 crore from import and export duty and Tk38,212 crore will be generated from supplementary duty.