NBR chief confident of achieving revenue target
04 November 2015,Nirapad News: National Board of Revenue (NBR) Chairman M Nojibur Rahman on Wednesday said the tax authorities would achieve the revenue target for the 2015-16 financial year (FY16).
The revenue target for FY16 has been set at Taka 1 lakh 76 thousand 370 crore with the major objective of attaining 7.0 percent growth in GDP (gross domestic product).
Addressing the launching ceremony of the “Tax Guide 2015-2016” in the NBR conference room in the capital city, Rahman said NBR has already started streamlining of its initiatives to expedite further the drive for revenue earnings.
The initiatives include skill and technological development for improving operational efficiency in tax collection process and creating awareness among taxpayers for establishing a tax payment culture.
He sought cooperation from all especially from the big taxpayers like businessmen and industrialists, for paying their tax properly.
Like previous years, Dhaka Chamber of Commerce and Industry (DCCI) published the tax guide to support businessmen in submitting tax returns.
Among others, DCCI President Hossain Khaled and Director Abdus Salam spoke on the occasion.
The NBR chief said the revenue receipt in the first quarter (Q1) was better than before, but the amount was lower than the target set for the period. The target for Q1 of this year was over Taka 36 thousand crore.
Rahman noted that the Q1 revenue collection for this year was Taka 31 thousand crore against last year’s Taka 28 thousands core. He explained that the collection fell below the target for the Q1 this year because the target was higher than that of the same period last year.
He further said until last year, the Q1 target was set lower than the targets for the later part of the fiscal year. But, this year identical target was fixed for all the four quarters.
He said NBR would arrange a three-day winter income tax fair starting from November 19 at seven divisional headquarters in the country to provide one-stop services to taxpayers.
He said NBR would also arrange more programmes including fair, conference and seminar to help build awareness about tax payment.
DCCI president suggested strengthening of cooperation between taxpayers and tax authorities to attain the revenue collection target.