NBR discloses names of top 10 corporate taxpayers
FE Report | Thursday, 10 July 2008
Seven private commercial banks and cell phone operator Grameenphone Limited were among the top ten income tax payers in fiscal 2007-08.
National Board of Revenue (NBR) Chairman Muhammad Abdul Mazid, for the first time in history, disclosed the names of top ten corporate income tax and Value Added Tax (VAT) payers of fiscal 2007-08 at a press conference.
About the release of a list of top ten tax evaders, Mazid said: "The board could consider preparing a list of top ten tax evaders like the top ten tax payers, but it will require further study."
The Grameenphone paid Tk 4.35 billion income tax in fiscal 2007-08, which was Tk 1.28 in the previous year.
Standard Chartered Bank (SCB), a London-based bank, which paid Tk 2.20 billion, ranked the second position. It paid Tk 1.88 billion in 2006-07.
US-based oil company Chevron Bangladesh operating in Blocks 13-14 paid Tk 1.80 billion in the year, up by Tk 900 million.
Islami Bank Bangladesh Ltd is in the fourth position in income tax payment paying Tk 1.61 billion while the Hong Kong and Shanghai Banking Corporation (HSBC) Ltd paid Tk 1.18 billion, Southeast Bank Ltd Tk 880 million, Pubali Bank Ltd Tk 780 million, Citibank NA Tk 760 million and Prime Bank Tk 670 million.
Titas Gas transmission and distribution company Ltd paid Tk 1.36 billion in 2007-08. It paid Tk 970 million in 2006-07.
Among the top ten VAT payers in the year, British American Tobacco Bangladesh (BATB) has paid highest VAT amounting to Tk 28.28 billion followed by Grameenphone Tk 14.38 billion, Dhaka Tobacco Tk 11.80 billion, mobile phone company Banglalink Tk 6.01 billion, AKTel Tk 2.77 billion and Rural Electrification Board (REB) Tk 1.05 billion.
Collection of VAT has dropped from the three gas fields out of four, who are among the top ten VAT payers.
On decrease of income tax collection from gas sector, the NBR chairman said: "The board will examine the decline in tax collection from gas sector."
VAT collection from Titas, Hobiganj and Rashidpur gas fields dropped in the just concluded fiscal.
Titas gas has paid Tk 7.64 billion in 2007-08 followed by Hobiganj Tk 4.65 billion and Rashidpur Tk 1.01 billion.
The three gas fields paid Tk 8.35 billion, Tk 4.94 billion and Tk 1.25 billion respectively in 2006-07.
Only Kailashtila gas field paid Tk 370 million more in 2007-08, compared to previous fiscal.
VAT officials said the gas companies have been paying Tk 1.20 billion a month until December 2007.
But, the companies have been paying Tk 1.10 billion from January 2008, saying that they have already paid surplus tax, which should be readjusted with current payment. They have declined to elaborate on the issue.
National Board of Revenue (NBR) Chairman Muhammad Abdul Mazid, for the first time in history, disclosed the names of top ten corporate income tax and Value Added Tax (VAT) payers of fiscal 2007-08 at a press conference.
About the release of a list of top ten tax evaders, Mazid said: "The board could consider preparing a list of top ten tax evaders like the top ten tax payers, but it will require further study."
The Grameenphone paid Tk 4.35 billion income tax in fiscal 2007-08, which was Tk 1.28 in the previous year.
Standard Chartered Bank (SCB), a London-based bank, which paid Tk 2.20 billion, ranked the second position. It paid Tk 1.88 billion in 2006-07.
US-based oil company Chevron Bangladesh operating in Blocks 13-14 paid Tk 1.80 billion in the year, up by Tk 900 million.
Islami Bank Bangladesh Ltd is in the fourth position in income tax payment paying Tk 1.61 billion while the Hong Kong and Shanghai Banking Corporation (HSBC) Ltd paid Tk 1.18 billion, Southeast Bank Ltd Tk 880 million, Pubali Bank Ltd Tk 780 million, Citibank NA Tk 760 million and Prime Bank Tk 670 million.
Titas Gas transmission and distribution company Ltd paid Tk 1.36 billion in 2007-08. It paid Tk 970 million in 2006-07.
Among the top ten VAT payers in the year, British American Tobacco Bangladesh (BATB) has paid highest VAT amounting to Tk 28.28 billion followed by Grameenphone Tk 14.38 billion, Dhaka Tobacco Tk 11.80 billion, mobile phone company Banglalink Tk 6.01 billion, AKTel Tk 2.77 billion and Rural Electrification Board (REB) Tk 1.05 billion.
Collection of VAT has dropped from the three gas fields out of four, who are among the top ten VAT payers.
On decrease of income tax collection from gas sector, the NBR chairman said: "The board will examine the decline in tax collection from gas sector."
VAT collection from Titas, Hobiganj and Rashidpur gas fields dropped in the just concluded fiscal.
Titas gas has paid Tk 7.64 billion in 2007-08 followed by Hobiganj Tk 4.65 billion and Rashidpur Tk 1.01 billion.
The three gas fields paid Tk 8.35 billion, Tk 4.94 billion and Tk 1.25 billion respectively in 2006-07.
Only Kailashtila gas field paid Tk 370 million more in 2007-08, compared to previous fiscal.
VAT officials said the gas companies have been paying Tk 1.20 billion a month until December 2007.
But, the companies have been paying Tk 1.10 billion from January 2008, saying that they have already paid surplus tax, which should be readjusted with current payment. They have declined to elaborate on the issue.