NBR targets 55 per cent VAT collection shortly

The National Board of Revenue (NBR) has targeted 55 per cent of revenue from Value Added Tax (VAT) within a short time by exploring its potentiality in the economy, the revenue board chief said Monday.
The NBR will take action against dishonest businessman who are collecting VAT from consumers but not depositing it to the public exchequer, said NBR Chairman Md Nojibur Rahman at a press briefing at the VAT Audit Intelligence and Investigation Department in the city.
He said the NBR has been taking some of initiatives including introduction of information technology at the tax offices to enhance capacity of the taxmen.
"The current political turmoil and countrywide blockade could not affect VAT collection as NBR officials are serious to achieve the target for revenue collection," Mr Rahman said.
He appreciated sincerity of the revenue board officials and promised to recognise them.
"Best performers will be awarded the vital posts at the revenue board while corrupt officials will have to pay for their misdeeds," he said.
Director General (DG) of Customs Intelligence and Investigation Directorate Dr Moinul Khan and Director General of VAT Audit Intelligence and Investigation Department Margub Ahmed were also present on the occasion.
shahalamnur@gmail.com