The National Board of Revenue (NBR) is set to form four new units as part of its compliance risk management to prevent tax evasion.
Sources said that the units will comprise of income tax intelligence unit, withholding tax management unit, E-tax management unit and international tax units.
In addition, the revenue authority also announced some other initiatives to ensure tax compliance, after a closed-door meeting between its Chairman Abu Hena Md Rahmatul Muneem and the visiting International Monetary Fund (IMF) delegation on Tuesday.
The initiatives include data analytics and technology integration, initiating more programs to increase the number of return submissions, tax net expansion, monitoring at source deduction compliance, increasing collection of arrear tax and advance income tax, quick disposal of disputed cases and audit.
The tax department of the NBR earlier handed over a report to its chairman to hold discussion with the mission.
However, after the meeting, no comments were received immediately from the IMF team or the NBR chairman about the issues discussed.
The NBR has not been able to meet the revenue collection target for the last FY23 under the condition of the $4.7 billion loan approved by the multilateral money lender agency for Bangladesh.
On October 5, the progress and targets of the tax-to-GDP ratio for this year were highlighted by the NBR in a meeting with the IMF.
After that, the mission held a second meeting with the NBR chairman on Monday.
