Govt may introduce unified TIN instead of existing two
Tuesday, 3 July 2007
FE Report
The government is considering introducing unified tax identification number (UTIN) instead of the present tax identification number (TIN) and business identification number (BIN) to make the tax payment system more simplified.
Chairman of the National Board of Revenue (NBR) Badiur Rahman disclosed this Monday at a views exchanging meeting with the members of Chittagong Chamber of Commerce and Industry (CCCI), according to a CCCI press release.
He also called upon the businessmen to pay taxes correctly on the basis of self-assessment system.
The CCCI organised the meeting at its conference room. President of the organisation Saifuzzaman Chowdhury presided over the meeting.
NBR chairman said the government has cut the discretionary power of tax officials and simplified the tax payment system for the convenience of taxpayers.
In this context, he said the government has started taking disciplinary actions against the corrupt officials and as a result some officials have intended to go on voluntary retirement before expiry of the service tenure.
Regarding increase and reduction of import duties on some goods in the just passed national budget, the NBR chairman said the government has done it considering all aspects of the economy and present market situation.
CCCI President Saifuzzaman Chowdhury said new budget will definitely contribute greatly to cut poverty, expand education and improve the health sector, but imposition of new import duties on some industrial raw materials will have adverse impact on industrial growth.
Our correspondent adds, Bodiur Rahman advised the tax payers to avail themselves of the chance of making payment of the income taxes out of their undisclosed earnings by July 31 next at the latest.
In this connection, he spelt a note of warning that if they failed to comply with the directive , drastic action would be taken against them as there is a provision to realising find at a rate of 250 per cent as per terms laid in the new ordinance.
Bodiur asked the tax payers not to pay any tips or bribes to the Customs officials as this very unhealthy practice rather deceives the government. In case of facing similar happening, he asked tax payers to communicate it to him directly with recorded conversation in the mobile set.
NBR Chairman, however, assured that immediate steps would be taken if any taxpayer was affected or harassed in connection with making payment of income tax.
He announced to extend the tenure of Bond Licences to 2 years instead of previous duration and also said that necessary steps would be taken soon to introduce automation system in the Chittagong Customs House (CCH).
The government is considering introducing unified tax identification number (UTIN) instead of the present tax identification number (TIN) and business identification number (BIN) to make the tax payment system more simplified.
Chairman of the National Board of Revenue (NBR) Badiur Rahman disclosed this Monday at a views exchanging meeting with the members of Chittagong Chamber of Commerce and Industry (CCCI), according to a CCCI press release.
He also called upon the businessmen to pay taxes correctly on the basis of self-assessment system.
The CCCI organised the meeting at its conference room. President of the organisation Saifuzzaman Chowdhury presided over the meeting.
NBR chairman said the government has cut the discretionary power of tax officials and simplified the tax payment system for the convenience of taxpayers.
In this context, he said the government has started taking disciplinary actions against the corrupt officials and as a result some officials have intended to go on voluntary retirement before expiry of the service tenure.
Regarding increase and reduction of import duties on some goods in the just passed national budget, the NBR chairman said the government has done it considering all aspects of the economy and present market situation.
CCCI President Saifuzzaman Chowdhury said new budget will definitely contribute greatly to cut poverty, expand education and improve the health sector, but imposition of new import duties on some industrial raw materials will have adverse impact on industrial growth.
Our correspondent adds, Bodiur Rahman advised the tax payers to avail themselves of the chance of making payment of the income taxes out of their undisclosed earnings by July 31 next at the latest.
In this connection, he spelt a note of warning that if they failed to comply with the directive , drastic action would be taken against them as there is a provision to realising find at a rate of 250 per cent as per terms laid in the new ordinance.
Bodiur asked the tax payers not to pay any tips or bribes to the Customs officials as this very unhealthy practice rather deceives the government. In case of facing similar happening, he asked tax payers to communicate it to him directly with recorded conversation in the mobile set.
NBR Chairman, however, assured that immediate steps would be taken if any taxpayer was affected or harassed in connection with making payment of income tax.
He announced to extend the tenure of Bond Licences to 2 years instead of previous duration and also said that necessary steps would be taken soon to introduce automation system in the Chittagong Customs House (CCH).