Two new systems to ease hassles of taxpayers approved

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The Finance Ministry has approved two new systems to ease hassles of the taxpayers, National Board of Revenue (NBR) Chairman Badiur Rahman said Thursday, report agencies.
The ministry unveiled a so-called universal self-assessment system for the taxpayers to evaluate the tax on their own, and submit returns to NBR.
The second system combines the tax identification number (TIN) and business identification number (BIN) in a unified taxpayer's identification number, which is called UTIN for short.
"These systems will be introduced to ease the submission of tax returns," Rahman said.
Finance Adviser AB Mirza Azizul Islam Thursday approved the two proposals, made by the tax regulator and collector. The previous system caused individual businessman and companies unnecessary difficulties, Rahman said.
Under the old system, companies and individual businessmen have to submit separate returns under BIN and TIN. The NBR chairman said, officials would accept the taxpayers' returns without asking any questions under the universal self-assessment tax system.
"A tax official will have to take prior approval from the NBR in order to make an inquiry into a taxpayer's return," he said. The NBR intends to introduce the universal self-assessment system and UTIN in the current fiscal year.
Meanwhile, NBR sent draft of a simple income tax return form to the Law Ministry for vetting. The existing tax return form containing several pages would be made one-page for the convenience of the taxpayers.
Another report said, NBR Thursday launched a six-month-long tax survey in the port-city, aimed at enlisting around 50,000 new taxpayers. The drive formally began at a shopping market in the city's Nasirabad area.