Spot assessment nets in 200 new taxpayers in city
FE Report | Wednesday, 6 April 2011
FE Report
At least 200 people were brought under tax-net Tuesday after their incomes were found to have crossed minimum tax threshold through a spot assessment conducted by the National Board of Revenue (NBR). The NBR carried out the spot assessment at the head office of the Rural Electrification Board (REB) near Uttara with the help of the shop owners and business associations at Khilkhet and Basundhara. The NBR launched the spot assessment campaign in November last year to bring small businessmen under the tax net. The country has millions of small shop owners but most evade tax payment despite the retail sector now accounts for more than 10 per cent of the country's Gross Domestic Product (GDP). Board officials said Tax zone-3, Circle-23 has conducted the spot assessment at the REB where they also issued Tax Identification Number to new taxpayers and their businesses. Additional tax commissioner Ranjan Kumar Bhoumik attended the programme as the chief guest. The NBR has set a target to net 500,000 new taxpayers in the current fiscal year through an array of motivational activities, campaign, surveys and spot assessments. Less than one million people pay taxes in the country of 150 million people. Experts and multilateral agencies have said the number could be raised to at least five million through survey and campaign. The board has brought only 16,187 businesses and professionals under tax net through spot assessments across the country. A total of 121 spot assessments were carried out until February. Since last month zonal tax offices have stepped up efforts to bring more people under the tax net. They targeted some of the city's rich residential areas to find out potential new tax payers.
At least 200 people were brought under tax-net Tuesday after their incomes were found to have crossed minimum tax threshold through a spot assessment conducted by the National Board of Revenue (NBR). The NBR carried out the spot assessment at the head office of the Rural Electrification Board (REB) near Uttara with the help of the shop owners and business associations at Khilkhet and Basundhara. The NBR launched the spot assessment campaign in November last year to bring small businessmen under the tax net. The country has millions of small shop owners but most evade tax payment despite the retail sector now accounts for more than 10 per cent of the country's Gross Domestic Product (GDP). Board officials said Tax zone-3, Circle-23 has conducted the spot assessment at the REB where they also issued Tax Identification Number to new taxpayers and their businesses. Additional tax commissioner Ranjan Kumar Bhoumik attended the programme as the chief guest. The NBR has set a target to net 500,000 new taxpayers in the current fiscal year through an array of motivational activities, campaign, surveys and spot assessments. Less than one million people pay taxes in the country of 150 million people. Experts and multilateral agencies have said the number could be raised to at least five million through survey and campaign. The board has brought only 16,187 businesses and professionals under tax net through spot assessments across the country. A total of 121 spot assessments were carried out until February. Since last month zonal tax offices have stepped up efforts to bring more people under the tax net. They targeted some of the city's rich residential areas to find out potential new tax payers.