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Tax fair ends: NBR collects Tk2,613, up by 5.85%

  • Published at 11:31 pm November 20th, 2019
tax fair
Citizens doing the necessary paperwork to give their taxes at a tax fair Rajib Dhar/Dhaka Tirbune

According to the NBR, some 655,095 tax returns were submitted at this year's fairs, surpassing the previous total of 487,573 in 2018

The countrywide annual income tax fair ended on Wednesday amid huge response from taxpayers.

The revenue board bagged Tk2,613.47 crore in taxes, 5.85% higher year-on-year, from the weeklong fair that kicked off last Thursday. Last year, it collected Tk2,469 crore from the fair.

Of the 2,613.47 crore, the NBR received Tk597.02 crore on the closing day, Tk357.80 crore on Tuesday, Tk311.85 crore on Monday, Tk282.57 crore on Sunday, Tk262.03 crore on Saturday, Tk489 crore on Friday, and Tk323.19 crore on the opening day.

The number of service recipients at the fair venues hit 1,863,387 this year, the highest ever in the history of the event which was initiated in 2010 to encourage individual taxpayers availing tax-related services without any hassle. 

According to the NBR, some 655,095 tax returns were submitted at this year's fairs, surpassing the previous total of 487,573 in 2018.

Besides, a total of 32,961 people opened taxpayer’s identification number (TIN) in the weeklong tax fair. It was 45,437 last year. 

Wednesday's fair turned festive from the very beginning as huge number of people from different backgrounds thronged the fair venues across the country including that at Officers Club in the capital. 

Long queues were formed at the fair venues across the country throughout the day, said NBR officials, who had troubles handling the huge crowd on the last day.

In the face of the rush, the revenue board extended the fair time until 8:00pm, which was originally scheduled to end at 5:00pm.

NBR Chairman Md Mosharraf Hossain Bhuiyan said people considered the fair as their favorable place for paying taxes, which was why the number of service seekers at the fair venues was on the rise.  

“This year’s fair is a success and our exception has been fulfilled,” he said, while visiting the fair premises in Dhaka on Wednesday afternoon.

The NBR chief assured that taxpayers could also pay taxes and seek other services from tax zones concerned without any hassle, similar to the fair. 

Reminding the deadline of return submission, Mosharraf requested the individual taxpayers to file their tax returns by November 30. Otherwise, the taxpayers have to pay taxes with fines, he mentioned.

24 firms pay Tk593 crore corporate tax 

Though the primary objective of the fair was to  encourage  individuals to pay taxes, 24 firms under the large taxpayers unit (LTU) also paid Tk593 crore in corporate taxes.

Of them, Grameenphone paid Tk150 crore, Islami Bank Tk100 crore, British American Tobacco Tk50 crore, IFIC Bank Tk50 crore, Trust Bank Tk25 crore, UCB Bank Tk10 crore, Modhumoti Bank Tk10 crore, Jamuna Bank Tk10 crore, National Bank Tk20 crore, Dutch Bangla Bank Tk20 crore, Prime Bank Tk10 crore, City Bank Tk20crore, Standard Bank Tk10 crore, Square Pharma Tk20 crore, Dhaka Bank Tk15 crore, Al-Arafah Islami Bank Tk10 crore, Sadharan Bima Coroporation Tk10 crore, Bank Asia Tk10 crore, Pubali Bank Tk10 crore, Uttara Bank Tk10 crore, Mutual Trust Bank Tk10 crore, Brac Bank Tk10 crore, Beximco Ltd Tk2 crore, and Healthcare Pharma paid Tk1 crore at the fair. 

The NBR chairman said the entities willingly paid the taxes at the fair. “We did not force companies to pay their taxes at the fair,” he added.

Tk15,614 crore collected in 10 years

The revenue board collected Tk15,614.47 crore income tax in 10 years from the fairs organized since 2010, according to the NBR data.

In 2010, the board earned only Tk113 crore from the fair.

Besides, the NBR bagged Tk414 crore in 2011, Tk831 crore in 2012, Tk1,117 crore in 2013, Tk1,675 crore in 2014, Tk2,036 crore in 2015, Tk2,130 crore in 2016, and Tk2,217 crore in 2017, and Tk2469 crore last year (2018).

However, the taxpayers will be able to file their tax returns of concluded fiscal (FY2018-19) until November 30.