The National Board of Revenue (NBR) is set to expand the tax net by assessing people's incomes on the spot.
As such, the revenue authority will be able to register new taxpayers through spot assessments from the next fiscal year 2022-23, expanding its reach from shopping centers or commercial markets for identifying businesses and professionals.
At the same time, the NBR offered a scope for businessmen and professionals to show five times the capital of their assessed income if the persons pay tax regularly.
The NBR will not raise any question regarding the source of capital, according to the Finance Bill 2022 placed by the finance minister for the next fiscal year.
The move comes as the tax collector finds that many people still remain out of the tax net even though they have taxable income.
Various stakeholders, including leading chambers, have been demanding the NBR bring more people under its coverage to increase the collection of income tax, which accounts for 32% of the government's total revenue.
The NBR said it will issue guidelines regarding spot assessment.
An NBR official said that they did not conduct surveys at the field level over the last two years because of the coronavirus pandemic.
It gathered secondary data from agencies, such as the Bangladesh Road Transport Authority and Directorate of National Savings, to find new taxpayers, he added.
