NBR out to track tax evading private organisations
11 April 2016, Nirapad News: The National Board of Revenue (NBR) is collecting the names and salary statements of officials and employees of private sector organisations in order to detect defaulting taxpayers, a news agency reported.
“We’re hopeful about collecting a significant amount of revenue from this area as a good number of private organisations are involved in evading tax while paying salaries and wages to their officials and employees,” a senior NBR official told .
The NBR is now gathering information about the officials and employees of all private universities, colleges, schools, private hospitals, diagnostic centres, private companies, television channels, hotels and other organisations like these.
Responding to a query, the NBR official said it is an open secret that a good number of private organisations disburse their salaries and wages in cash, and there are two types of record books for this purpose — one is genuine and another is fake, for showing to government agencies.
“The record books which are shown to government agencies contain lower salary structure just to evade tax,” the official said.
He also mentioned that some private organisations are still reluctant to disburse salaries through banks as this system will open everything to the tax authorities regarding salary and wages of their officials and employees.
“That’s why the NBR has decided to collect the information of private organisations and check out whether tax is properly paid or not,” the NBR official said.
The NBR has gone on this drive as part of its plan to boost the tax collection alongside raising the number of new taxpayers at least by 300,000 within June next.
According to official data, the number of TIN or e-TIN holders in the country is now 18,61,682. Of them, 17,76,401 are individual taxpayers.
In the fiscal year 2014-15, some 10,40,354 people submitted their income tax returns while the number of companies submitted tax their returns is 23,011.
The NBR has got a gigantic target of Tk 176,370 crore revenue collection for the fiscal year 2015-16 against Tk 135,028 last year.
This year, the target was set to collect Tk 64,971 crore from income tax, while Tk 64,262 crore from VAT and Tk 18,752 from import duty. The target for export duty has been fixed at Tk 37 crore, excise duty at Tk 1,239 crore and supplementary duty at Tk 25,875.