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The Financial Express

NBR listing wealthy people to extract more revenue

| Updated: February 04, 2018 18:41:06


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Internet photo used only for representation. Internet photo used only for representation.

National Board of Revenue (NBR) is preparing a list of the 'apparently' rich people, who pay comparatively less taxes, with the aim to collect some more money for the national exchequer.

The NBR has taken the move after its newly appointed chairman put emphasis on collecting appropriate taxes from the known rich people in the society.

Md Mosharraf Hossain Bhuiyan, who got appointment as the NBR chief for three years, at his first meeting with taxmen said that there are many top businessmen in the country who have image and influence.

"But when it comes to paying taxes, they are not the highest taxpayers," he said.

He mentioned that the NBR wanted to sit with those businessmen and let them know that the NBR wanted to honour them.

In this connection he also gave an example that one of his relatives became a top taxpayer of a district although that person was not the richest man in that town.

"We have got the indication from the first meeting of our new boss, we have started our job," a senior official of the NBR told news agency UNB.

He said that the NBR boss uttered the bitter truth very simply. There are so many 'rich' businessmen in the country in terms of image and influence.

"But their tax file is not that much rich comparing many other taxpayer businessmen of the country. You can find that in the names of the top taxpayers of the country," he said.

The NBR official mentioned that the NBR chairman has laid importance on finding out those names to fetch some extra money for the national exchequer.

"This move may help us to lighten our burden for collection of the huge amount of tax for the running fiscal," he said.

The NBR official, however, said that the new NBR chief opposed to go for harsh way to realise taxes.

"The NBR chairman told us that collecting tax in a harsh manner is not effective. We have to collect revenue in a way that economic activities, investment and livelihood do not get affected," he said.

The revenue target for the NBR for the current fiscal year (2017-18) was set at Tk 2481.9 billion (248,190 crore) while that of non-NBR tax revenue collection at Tk 86.62 billion (8,662 crore) and the target of non-tax revenue collection set at Tk 311.79 billion (31,179 crore).  Of the total revenue target of NBR, Tk 913.44 billion (91,344 crore) will come from VAT while Tk 868.67 billion (86,867 crore) from income tax and corporate tax, Tk 301.53 billion (30,153 crore) from import and export duty and Tk 382.12 billion (38,212 crore) will be generated from supplementary duty.

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