NBR working to facilitate large payments through e-payment facility

The National Board of Revenue (NBR) has taken a move to increase its capacity for accepting large transactions to be credited to the national exchequer electronically, following the introduction of the e-payment facility more than three years back. "If this can be done taxpayers will be able to pay any amount of money from any scheduled bank account through e-payment," a senior official of the NBR said. Currently the taxpayers are able to make relatively small payments against their income tax, VAT and customs duty through the e-payment system. Only the account holders of 26 scheduled banks of the country which are connected with the Q-Cash network are eligible to pay the tax through e-payment system. Debit card and credit card holders of these banks can avail the facility of this payment system. He said that Q-cash, Sonali Bank and NBR are jointly conducting the e-payment system taking financial and technical help from the Investment Climate Fund and International Finance Corporation (IFC). This year NBR has got a target of Tk1763.70 billion for the 2015-16 fiscal. An amount of Tk649.71 billion is expected to come from income tax, while Tk642.62 billion from VAT and Tk187.52 billion import duty. The target for export duty has been fixed at Tk370 million, excise duty at Tk12.39 million and supplementary duty at Tk258.75 million, according to a news agency.

-Shuvo-