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Muhith: Budget to be Tk500,000cr in FY18

  • Published at 12:41 am November 2nd, 2016
Muhith: Budget to be Tk500,000cr in FY18
Finance Minister AMA Muhith said the size of the next fiscal year’s national budget for the next fiscal year would be around Tk5, 00,000 crore. “The size of the national Budget for the fiscal year 2017-18 will be nearly Tk500,000 crore,’’ he said while addressing the inaugural ceremony of Dhaka edition of National Income Tax Fair, which is being held for the seventh consecutive year. Muhith also inaugurated the e-filing system at the fair, so the taxpayers can submit their income tax returns online from now on by visiting www.etaxnbr.gov.bd The National Board of Revenue (NBR) is organising the week-long fair that began yesterday at seven divisional headquarters. NBR for the first time has organised the fair at its own new premises in the capital’s Agargaon. The fair, which is being held to encourage more people to pay their income taxes regularly, will also be held at 150 venues including seven days at the divisional headquarters, four days at the district headquarters, two days in 29 upazilas and one day mobile income tax fair at 57 upazilas. The fair will remain open from 10:00am to 5:00pm. For the development and welfare of the society, the minister put emphasis on increasing number of taxpayers as saying “It’s shameful for us as only 1.35 million individuals are paying taxes out of 16 million people of the country.” Speaking as the chief guest, finance minister also inspired young generation to become taxpayers and entrepreneurs. He said: “There shouldn’t be any bar or limit of age for paying tax as whoever is capable of paying tax, he/she should take part in building the nation by paying taxes”. This year, the target of attracting taxpayers was 300,000 and the tax authorities has already reached it getting 350,000 taxpayers. NBR Chairman Md Nojibur Rahman said: “Apart from taking proper measures to collect taxes, the authorities are also taking necessary measures against the tax evaders.” He said the NBR will honour 300 taxpayers including 100 young entrepreneurs to motivate the youths for paying taxes. Speaking as a special guest, FBCCI President Abdul Matlub Ahmed urged the government to focus on issues like taking proper initiatives to resolve all the inconveniences in paying taxes, ensuring easy access to information, establishing more regional revenue buildings in the capital and at the district levels, introducing tax police to help the process of taxpaying and tax information centres in Bangladesh’s missions abroad to improve tax collection situation further. The fair will provide one-stop services including registration of electronic taxpayer’s identification number (eTIN), submission of income tax returns and online payment facilities. On the first day, the NBR had bagged over Tk191 crore from 16,086 income tax returns submitted in the fair across the country. Last year, it was Tk153.20 crore from 14,998 returns on the first day. This year, a total of 59,292 people received different services while 4875 people registered themselves with new e-TIN. The inaugural ceremony was addressed, among others, by State Minister for Finance and Planning MA Mannan MP.