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NBR eyes Tk1,500cr revenue in forthcoming tax fair

  • Published at 08:49 pm September 2nd, 2014
NBR eyes Tk1,500cr revenue in forthcoming tax fair

The National Board of Revenue has set a target of Tk1,500 crore revenue collection from the weeklong income tax fair scheduled to begin on September 16.

We are expecting to collect Tk1,500 crore from the fair as the last year's collection exceeded Tk1,100 crore target. The fair is expected to help widen the tax net as well as ensure increased revenue collection,” an NBR official said.

The board has already formed a convening committee led by its member Chowdhury Amir Hossain to observe the fair properly, he said, adding that a press conference will be organised on September 14 to disclose the details of the programme.

The Income Tax Fair has been a core interest to taxpayers for submission of their returns as they can file them through one stop services.

It is alleged that the tax authority's field officials harass the taxpayers while filing the returns, and so the taxpayers wait for the fair which undertakes a huge preparation to satisfy the needs of taxpayers.

This year, the nationwide fair will be held for four days simultaneously in all 64 district headquarters while the divisional headquarters will observe it for seven days.

The revenue authority is hoping that the fair would help face the challenge of achieving the revenue target of Tk1.49 crore for the FY 2014-15.

The fair will offer Electronic Taxpayers Identification Number (E-TIN) registration, income tax payment, submission of income tax returns by taxpayers etc.

There will be booths of Sonali Bank and Janata Bank to facilitate tax-related transactions and some booths will also be set up to facilitate E-TIN registration.

Finance Minister AMA Muhith is likely to inaugurate the fair on September 16.

On September 15, the board will also award tax cards to the entrepreneurs considering their contribution to the national exchequer.

The fair will remain open for visitors from 10am to 6pm. Last year, the revenue body collected Tk1,117 crore in income tax from the fair, surpassing its target of Tk1,100crore.

A total of 5.10 lakh people received services from the fair and the board had received tax returns from around 1.32lakh taxpayers.