LTU nets over Tk 3.34b from taxpayers this yr
Friday, 21 November 2008
The government's revenue department netted a much higher amount of money from the individual taxpayers under the Large Taxpayers Unit (LTU) this year, mainly due to new techniques adopted to bring potential taxpayers into the net, reports UNB.
The National Board of Revenue (NBR) this year collected over Tk 3.34 billion from 738 individual taxpayers under the LTU. The amount was over Tk 2.60 billion only from 626 individuals last year, as per the NBR data.
"It happened due to our new techniques that we adopted recently," NBR chairman Muhammad Abdul Mazid said.
A couple of months back, the NBR adopted 'intelligence game' with traditional tax-dodgers, preparing plans to catch those evading payment of taxes for long. "We're now in an intelligence game with the tax-evaders, and it'll continue until the end of identification of all the dodgers," the NBR chairman said.
He noted the tax-dodgers would try their level best to evade taxes, but the revenue-collecting authorities would also do their part to net them and bring them to book.
Explaining the tactics of the revenue authorities to catch the tax delinquents, the NBR chief said they had already collected the names and taxpayer's identification numbers (TINs) from all associations across the country. "We'll go after those whose income tax is negligible or not up to their lifestyle," Mazid said.
He said his organisation would also crosscheck the official papers of the employees of big businesses or corporate houses, who are under the LTU, to have some ideas about their salaries, lifestyle and loan status.
"For example, if you take loan from a bank, you have to submit all necessary documents to them to avail of the desired loan. We'll crosscheck those submitted papers and the papers that particular person submitted to us (NBR) with his/her income-tax-return documents," he said, adding, "From this we must get some clues about a person's tax evasion."
The National Board of Revenue (NBR) this year collected over Tk 3.34 billion from 738 individual taxpayers under the LTU. The amount was over Tk 2.60 billion only from 626 individuals last year, as per the NBR data.
"It happened due to our new techniques that we adopted recently," NBR chairman Muhammad Abdul Mazid said.
A couple of months back, the NBR adopted 'intelligence game' with traditional tax-dodgers, preparing plans to catch those evading payment of taxes for long. "We're now in an intelligence game with the tax-evaders, and it'll continue until the end of identification of all the dodgers," the NBR chairman said.
He noted the tax-dodgers would try their level best to evade taxes, but the revenue-collecting authorities would also do their part to net them and bring them to book.
Explaining the tactics of the revenue authorities to catch the tax delinquents, the NBR chief said they had already collected the names and taxpayer's identification numbers (TINs) from all associations across the country. "We'll go after those whose income tax is negligible or not up to their lifestyle," Mazid said.
He said his organisation would also crosscheck the official papers of the employees of big businesses or corporate houses, who are under the LTU, to have some ideas about their salaries, lifestyle and loan status.
"For example, if you take loan from a bank, you have to submit all necessary documents to them to avail of the desired loan. We'll crosscheck those submitted papers and the papers that particular person submitted to us (NBR) with his/her income-tax-return documents," he said, adding, "From this we must get some clues about a person's tax evasion."