NBR waiting for response from taxpayers to newly introduced system
Monday, 27 August 2007
National Board of Revenue (NBR) will go for further simplification of rules and regulations for payment of taxes on the basis of success of the new system introduced this year, reports UNB.
Universal self-assessment system and unified taxpayers identification number (UTIN) for large taxpayers unit (LTU) had been introduced with the objective of getting higher amount of taxes from more taxpayers.
The income tax return form has also been reduced to just one page for the convenience of the taxpayers.
All these are a test case," said a senior official of NBR. "If these work well, we are thinking of further simplifying of the procedures."
The official recalled the recent statement of the NBR chairman who said that a number of changes had been made in the system of income tax return, and they would think of further simplification on good response from the taxpayers.
He gave a broad hint that the taxpayers need not come to the tax office to pay tax. "They can pay tax the way they pay utility bills in banks or such similar procedures," he said.
But everything depends on the attitude of the taxpayers - whether they are responding to the new simplified system or not, he added.
On UTIN, the official said, it can be extended to individual level in case of success in LTU. If we get a good response then it will be introduced in individual level in Dhaka, and subsequently it will be further extended to the entire country."
The target for revenue collection has been fixed at Tk 438.50 billion (43,850 crore) in the current fiscal, including Tk 108.38 billion from income tax.
Universal self-assessment system and unified taxpayers identification number (UTIN) for large taxpayers unit (LTU) had been introduced with the objective of getting higher amount of taxes from more taxpayers.
The income tax return form has also been reduced to just one page for the convenience of the taxpayers.
All these are a test case," said a senior official of NBR. "If these work well, we are thinking of further simplifying of the procedures."
The official recalled the recent statement of the NBR chairman who said that a number of changes had been made in the system of income tax return, and they would think of further simplification on good response from the taxpayers.
He gave a broad hint that the taxpayers need not come to the tax office to pay tax. "They can pay tax the way they pay utility bills in banks or such similar procedures," he said.
But everything depends on the attitude of the taxpayers - whether they are responding to the new simplified system or not, he added.
On UTIN, the official said, it can be extended to individual level in case of success in LTU. If we get a good response then it will be introduced in individual level in Dhaka, and subsequently it will be further extended to the entire country."
The target for revenue collection has been fixed at Tk 438.50 billion (43,850 crore) in the current fiscal, including Tk 108.38 billion from income tax.