Third-party scrutiny of TIN in 25 areas shortly

Third-party verification of TIN is likely to come into effect shortly so that service-providing entities can crosscheck authenticity of the tax files of those seeking services in a variety of fields.
The authority concerned has already uploaded the verification system on the NBR site, official sources said.
A senior tax official said the National Board of Revenue (NBR) will give a user guide after the Eid-ul-Fitr vacation to facilitate the service providers in using the system to check out fake e-TIN holders.
"The entities will have to nominate an authorised person who will be responsible for verification," he said.
Third parties or service-providing entities will have to apply to the NBR for their respective user- identification number (ID) and tax authority's approval, he said.
An official authorisation document will be needed for the user ID.
In the current fiscal year (FY) budget, the government slapped up to Tk 50,000 penalty for any service-providing entity not verifying e-TIN at the time of delivering services.
The revenue board recently held a meeting to brace itself with preparation for extending cooperation to third-party authority, including commercial banks, land-and car-registration offices and other service- providing entities.
Synesis IT Limited is providing technical support for the system.
The NBR introduced a verification module on July 1, 2014 to check fake TIN-holders obtaining services from public and private entities.
The module has been introduced to help the service providers, including banks, financial institutions, and land-and car-registration authorities, to find out false TIN-holders and refuse services.
Service providers will get access to the verification module of the NBR to check the fakes. There will be 'valid' or 'invalid' sign on the verification site of the NBR after entering TIN.
There are some 25 areas where furnishing TIN is mandatory.
These included opening letter of credit (L/C) for import, renewal of trade licence and car registration or renewal of registration, submitting tender documents for supply of goods or any contract, application for membership of a club registered under the Company Act 1994, registration for purchase of land, building or an apartment situated within any city corporation or any pauroshova of a district headquarters, deed value which exceeds Tk 0.1 million, sanction of loan exceeding Tk 0.5 million to a person by any commercial bank or leasing company, and issuance of credit card.
Also on the list of TIN requirements are issuance of practicing licence to  doctor, a chartered accountant, a cost and management accountant, a lawyer or an income-tax practitioner, giving ISD connection to any kind of telephone, being director of a company or sponsor-shareholder of a company, renewal of membership of any trade body, issuance of drug licence, submitting a plan for construction of building for obtaining approval from RAJUK, CDA, KDA, and RDA, application for gas and electricity connection for commercial purpose in a city corporation, pauroshova or cantonment board, submitting nomination form for any election in upazilla, pauroshova, city corporation or Jatiya Sangsad.
[email protected]