NBR to address flaws in new income tax law

The National Board of Revenue (NBR) has taken initiatives to address the flaws identified in the new Income Tax Act 2023 for the greater interest of the people.
"After sitting and consulting with relevant stakeholders, the new law was enacted. Despite our efforts, some loopholes may have been overlooked," Chairman Abu Hena Md Rahmatul Muneem told a seminar on Thursday, without elaborating the flaws.
"The emphasis now is on the necessity of fine-tuning the law," he added.
The NBR organised the seminar titled "New Income Tax Law and Tax Compliance: Changed Context" at its auditorium in the capital.
Attorney General AM Amin Uddin attended the seminar as the chief guest while NBR Member (Tax Policy) Dr Shams Uddin Ahmed presented a keynote paper. Deputy Attorney General Samarendra Nath Biswas and NBR Members Masud Sadiq and Syed Abu Daud also attended the event.
The new income tax law that became effective on June 22 this year replaced the Income Tax Ordinance of 1984.
The NBR chief also emphasised the need for promoting tax return preparers (TRPs) so that they could contribute to expanding the tax net. "Expansion of the tax net will not be possible without the TRPs," he said.
Addressing the event, Attorney General Amin Uddin urged the NBR officials to tackle any instances of harassment in the tax collection process.
He appreciated the new tax law for its timeliness and being crafted in Bangla and suggested the NBR make necessary amendments from time to time.
Taxmen will act as judges too as the new income-tax law vests in them judicial power to try tax delinquencies, for the first time, in a government bid to enhance revenue.
The tax collectors can pronounce 'verdict' in the fashion of a civil court, instead of issuing orders, to ensure tax compliance and thus prevent tax-dogging.
Under a provision of the Income Tax Act 2023, the tax authority has been given the judicial authority under the Code of Civil Procedure. And, the quasi-judicial order will be considered a civil court's verdict.
"Tax authorities' order, under any of the initiatives or action under this law, would be considered a Civil Court order," section 211 (6) of the country's upgraded income-tax law reads.
The provision (6) of section 211 of the law is a newly incorporated one which was not in the previous Income Tax Ordinance 1984.

[email protected]