The revenue board is going to sit with the office of the Controller General of Accounts (CGA) to discuss the issue relating to mismatch in tax revenue collection figures.
The difference in tax revenue collection figures between the National Board of Revenue (NBR) and the CGA increased to nearly five times over a period of four years ending in the last financial year.
In the financial year 2014-15, the CGA office found a gap amounting to Tk 137 billion compared to Tk 29.23 billion in 2010-11.
The difference in revenue data continued to rise in every fiscal. It identified the difference between tax revenue collection data of the revenue board and its office increasing rapidly.
To address the issue, the NBR has decided to hold a meeting with the CGA to compute the revenue collection data correctly.
The revenue board has found a number of tax collection head, including travel tax missing in the CGA data.
Officials said the board needs to clarify a few issues including the big mismatch between CGA and NBR revenue figures.
The research and statistics wing of the NBR reviewed the data of 2013-14 when mismatch was found to be Tk 93.98 billion.
The CGA data showed a mismatch of Tk 48.61 billion in income tax collection data while it was Tk 65.40 billion in Value Added Tax (VAT). However, the CGA office found the customs wing's revenue collection is up by Tk 11.65 billion than that of the shown data of the NBR.
In an analysis, the NBR has identified data of its three income tax zones where mismatch is around 95 per cent with that of the CGA office. It found difference in tax collection data amounting to Tk 46.16 billion with the three tax zones.
A major part of revenue of these tax zones is collected at source tax where there exists possibility of over-reporting. This might be responsible for the large difference in revenue collection data between the two organisations, officials said.
On mismatch in VAT collection data, the NBR also found tax collection process of Large Taxpayers Unit (LTU), Dhaka (south) and Chittagong VAT office as the major reason.
Mistake in depositing VAT on the correct code, Advance Trade VAT (ATV), deduction of refunded revenue from CAG data may cause the large gap in VAT collection data.
Officials said the NBR would hold some internal meetings with its tax offices to analyse the situation before holding a meeting with the CAG to find out the reason of mismatch.
They said many of the data did not appear in the tax revenue collection figure of the CAG office that the NBR needs to clarify.
doulot_akter@yahoo.com
NBR to discuss revenue data mismatch with CGA
Doulot Akter Mala | Published: December 31, 2015 00:00:00 | Updated: February 01, 2018 00:00:00
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