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Plan to set up income tax zones in 2 districts, offices in 103 upazilas

  • Published at 03:12 pm June 1st, 2017
  • Last updated at 04:55 pm June 1st, 2017
Plan to set up income tax zones in 2 districts, offices in 103 upazilas
The government is planning to establish new income tax zones in two districts and offices in 103 upazilas to outreach taxpayers as part of its tax-based expansion plan. “In order to outreach our valued taxpayers with tax services, we are gradually establishing new tax zones in all important districts. To that end, I propose to establish two new tax zones in Jessore and Kushtia,” Finance Minister AMA Muhith said during his budget speech for 2017-18 fiscal year at parliament on Thursday. “In addition to the existing 87 upazila tax circle offices, we plan to establish tax circle offices in 103 new upazilas,” the minister added. The upazila-level tax offices, which are believed to be viable for revenue collection, may largely contribute to the government exchequer, said an official of the National Board of Revenue (NBR). “With the new offices, the NBR will be able to bring many enterprises and people, who have the capacity to pay income tax, under the tax net as they are not paying their due taxes due to a lack of proper monitoring,” the official said, requesting anonymity. In his budget speech for FY2017-18, Muhith also proposed a number of reforms to simplify the tax system and better clarify different provisions to reduce tax evasion. The recommended measures include mandatory submission of income tax return for executive or management-level employees in private businesses. The minister also proposed to relax the provision of filing wealth statement of taxpayers with relatively less amount of gross wealth. He said he expected that the proposed reforms in direct tax policy and administration would bring the untapped sectors of the economy under the tax net and enrich the tax compliance culture in Bangladesh.