Mohiuddin Monem wins NBR accolade for fifth consecutive year

ASM Mohiuddin Monem

A.S.M. Mohiuddin Monem, Deputy Managing Director of Abdul Monem Ltd. and Chairman of ServicEngine Ltd., has been honoured as a top taxpayer by the governmet for five consecutive years from the fiscal year (FY) 2013-2014 to FY 2017-2018, says a statement of the company.

In his reaction, Mohiuddin Monem said the income tax return submission would grow three to four times if the tax rates are reduced by keeping similarity with other countires both at individual and institutional levels.

According to data with the National Board of Revenue (NBR), there were about 3.5 million (35 lakh) taxpayer identification number (TIN) holders as of June last and in the last fiscal year around 1.95 million of them submitted their tax returns.

If the scope of income tax fair and other tax-related services are widened and the tax rates are reduced, the people would feel more encouraged to submit their returns and that would ultimately push up the tax revenue income of the government, he said.