NBR chief asks officials to gear up revenue collection
Sunday, 11 November 2007
FE Report
National Board of Revenue (NBR) Chairman Muhammad Abdul Mazid Saturday instructed the tax officials for all-out efforts to boost revenue collection in order to achieve the target but warned them of stern action if any irregularities were committed.
"I myself will undertake surprise field trips to monitor your performance," the NBR chairman said during a meeting with senior tax officials in the city.
During the meeting the NBR chairman explained his plans about gearing up revenue collection and instructed the taxmen to avoid creating unnecessary complicacy that causes harassment to the business community.
Referring to the board's ongoing survey on existing business outlets and organisations, NBR chairman also asked the board officials to be careful in identifying fresh taxpayers.
He, however, stressed the need for proper execution of the newly introduced Universal Self Assessment (USA) system.
The revenue board chief also advised the taxmen for continuous effort to exceed the target every month in order to avoid chances of revenue shortfall during the closing of fiscal year.
In July-September 2007-08, tax revenue collection was recorded at Tk 93.01 billion against the target of Tk 90.51 billion.
The NBR collected Tk 16.35 billion, posting a 21.33 per cent growth over that of the corresponding period of previous fiscal.
The government set the total tax revenue collection target of Tk 438.50 billion for the fiscal 2007-08, representing a 17 per cent increase over that of the revised target of Tk 374.79 billion in the fiscal 2006-07.
The tax revenue target was Tk 410.55 billion in the original budget for the fiscal 2006-07, which was revised to Tk 374.79 billion later.
Besides the members of NBR, they said, commissioners of all the tax collecting wings including Dhaka, Rajshahi, Rangpur, Sylhet, Barishal, Large Tax Unit (LTU), Central Intelligence Cell (CIC), and central tax survey zone attended the meeting.
National Board of Revenue (NBR) Chairman Muhammad Abdul Mazid Saturday instructed the tax officials for all-out efforts to boost revenue collection in order to achieve the target but warned them of stern action if any irregularities were committed.
"I myself will undertake surprise field trips to monitor your performance," the NBR chairman said during a meeting with senior tax officials in the city.
During the meeting the NBR chairman explained his plans about gearing up revenue collection and instructed the taxmen to avoid creating unnecessary complicacy that causes harassment to the business community.
Referring to the board's ongoing survey on existing business outlets and organisations, NBR chairman also asked the board officials to be careful in identifying fresh taxpayers.
He, however, stressed the need for proper execution of the newly introduced Universal Self Assessment (USA) system.
The revenue board chief also advised the taxmen for continuous effort to exceed the target every month in order to avoid chances of revenue shortfall during the closing of fiscal year.
In July-September 2007-08, tax revenue collection was recorded at Tk 93.01 billion against the target of Tk 90.51 billion.
The NBR collected Tk 16.35 billion, posting a 21.33 per cent growth over that of the corresponding period of previous fiscal.
The government set the total tax revenue collection target of Tk 438.50 billion for the fiscal 2007-08, representing a 17 per cent increase over that of the revised target of Tk 374.79 billion in the fiscal 2006-07.
The tax revenue target was Tk 410.55 billion in the original budget for the fiscal 2006-07, which was revised to Tk 374.79 billion later.
Besides the members of NBR, they said, commissioners of all the tax collecting wings including Dhaka, Rajshahi, Rangpur, Sylhet, Barishal, Large Tax Unit (LTU), Central Intelligence Cell (CIC), and central tax survey zone attended the meeting.