Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Friday, July 28, 2017 02:48:29 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

New tax zones to boost collection: NBR

17th-May-2017       Readers ( 115 )   0 Comments
Share your thought
Post a comment »
Read all (0) »

Badrul Ahsan :
The National Board of Revenue, as part of its massive expansion plan, has decided to create 17 new income tax zones across the country within next five years with a view to boosting its revenue collections, sources said.
The expansion plan has been adopted, particularly for its income tax wing, to manage the increasing number of taxpayers and provide them with better services in coming years.
However, of the new zones, some of them will be created soon, may be in the next fiscal year, officials of the revenue board said.
Similarly, customs wing will also see substantial expansion activities to deal with increased import and export activities in the country.
Currently, income tax wing has 39 zones across the country and one academy. Of the offices, 33 directly deal with income tax collection.
Officials have said that it has become impossible for the field level tax offices to provide the taxpayers with better and organised services, as the number of taxpayers has remarkably increased in the last few years and continue to increase.
The number of electronic taxpayers' identification number (e-TIN) holders reached about 28 lakh in March from 19 lakh a year ago, they said.
The revenue collection target has also become more than double within the last few years.
By the end of the current fiscal year, the number of e-TIN holders will reach 30 lakh, they hoped.
A high official told The New Nation that some of the existing tax zone became overloaded with the number of taxpayers.
For example, there are two lakh taxpayers under the jurisdiction of Khulna income tax zone.
A tax official has to deal with several thousands of income tax returns which degrade the quality of services, he said.
According to the NBR plan, six regular territorial income tax zones will be set up across the country.
These will deal with income tax collection and processing income tax returns, six Tax Deduction at Source (TDS) zones, three Appeals and Assessment Zone and an Income Tax Intelligence and Investigation Directorate.
Among the new territorial zones, two will be in Dhaka, one each in Chittagong, Faridpur and Jessore, while four TDS zones will in Dhaka and one each in Chittagong and Rajshahi.
Currently, there are 15 territorial zones in Dhaka, four in Chittagong, one each in Khulna, Rajshahi, Bogra, Rangpur, Sylhet, Barisal, Gazipur, Narayanganj, Comilla and Mymensingh.
According to the NBR, around 54 per cent of total income tax collections are source tax, as different public and private agencies deduct the amount during payment of bills, salary and giving bank interest.
But there is no dedicated income tax office to see whether the agencies are deducting the tax properly and depositing in the government exchequer, officials said.
They said that the finance minister had already approved the proposal for creating six TDS zones.
The revenue board will now have to take approval from different ministries, including finance and public administration, to implement the expansion plan, they added.
Similarly, customs wing will also undergo a massive expansion in coming years as the volume of export and import has been rising tremendously.
The NBR has already finalised to split the Dhaka Bond Commissionerate into two and got approval from the public administration ministry to hand smooth services to exporters.
Chittagong Customs House may also be divided into two houses-one for Chittagong port and the other for off-docs and Chittagong airport.

0 Comments. Share your thoughts also.
Write a comment
Add Rate

News Archive

Inside The New Nation

Cricket »

Sri Lanka slip to 154-5 after India make 600

AP, Galle :Sri Lanka slipped to 154-5 and was still 446 runs behind India's huge first-innings total of 600 all out on Day 2 of the first test on Thursday.Sri Lanka was 247 runs short of avoiding the follow-on, with only Angelo Mathews showing some resistance with his 54 not ...

Cricket »

Miraz off to West Indies

Sports Reporter :Magical Mehedi Hasan Miraz left the city for West Indies on Thursday to take part in the Caribbean Premier League (CPL). Miraz will play for Trinbago Knight Riders in the CPL.Best all-rounder of world cricket Shakib Al Hasan will also leave the city for West Indies tomorrow to ...

International »

Muslim elders urge return to prayer as Israel backs down over Al-Aqsa

Reuters, Jerusalem :Muslim elders urged worshippers to return to pray at Al-Aqsa Mosque in Jerusalem on Thursday after Israel backed down in the face of 10 days of often-violent protests and removed all security measures it had installed at the site.Israel's decision marks a significant climbdown by Benjamin Netanyahu's government ...

Entertainment »

Orsha, Tusty in serial for first time

Sheikh Arif Bulbon :In media, Shamima Tusty started her career before Nazia Haque Orsha. But they have a nice friendship between them. For the first time, these two friends worked together in a drama serial. Under Sokal Ahmed’s direction Orsha and Tusty are working together in serial Babui Pakhir Basha. ...

Entertainment »

Vidya Balan joins hands with Rahul Bose

Vidya Balan has joined hands with Rahul Bose’s NGO HEAL (Help Eradicate Abuse through Learning) to fight child sexual abuse. Child abuse is one of the worst problems of the country and is very often swept under the rug. The talented actress believes that it is time to speak up ...

Editorial »

BB`s new monetory policy squeezes private sector credit growth

BANGLADESH Bank has reduced its private sector credit growth target to 16.20 per cent - that so far was maintaining an upward trend in recent months.  With a view to decrease money supply in the market, the BB's monetary policy statement for July-December of this year has clarified it. It ...

City »

President and General Secretary of Bangladesh Awami Swechchhasebok League, Dhaka Mahanagar Dakshin greeting Prime Minister Sheikh Hasina by presenting bouquet at Ganobhaban on Thursday marking 23rd founding anniversary of the organisation.

Editorial »

It is painful to see how people of Dhaka and Chittagong suffering

INTERMITTENT heavy rainfall in the two big cities of the country has brought them closer to the breaking point. On one hand the rains worsened by gusty wind is creating unimaginable water logging and traffic jams, while on the other unplanned and undisciplined ongoing city development programmes have created innumerable ...

Cricket »

Dhawan, Pujara score centuries as India end Day 1 at 399/3

Agency :India made a dream start to the first Test by scoring 399 for 3 on the first day of the match with Shikhar Dhawan and Cheteshwar Pujara scoring contrasting centuries and sharing a 253-run stand for the second wicket. Dhawan was dismissed for 190.Sri Lanka had their tail up ...

Entertainment »

Runa, Bhabna wish success for each other

Sheikh Arif Bulbon :Runa Khan and Ashna Habib Bhabna are those two actresses of present time in small screen who have already won the hearts of many viewers by virtue of their acting skills and qualities. Both TV plays/ serials and TV commercials presence of Runa Khan is significant. On ...

City »

Major areas of the city went under water due to torrential rain causing sufferings to the dwellers yesterday. This picture was taken from city`s Dayaganj area yesterday.


International »

Rouhani says Iran will `respond` if US missile law passes

AP, Tehran : Iran's President Hassan Rouhani said Wednesday his country will respond if a bill in the U.S. Congress imposing sanctions on people involved in Iran's ballistic missile program becomes law.The House of Representatives passed the bill on Tuesday and it now goes to the Senate.Without giving details, Rouhani said ...

Editorial »

HSC results: Fall in pass rates fall in standard too

THE results of this year's HSC examinations saw a significant fall in both the success rate and the number of highest achievers due to the introduction of a new evaluation method, students' poor performance in English and shocking performance of students of Comilla Board. The overall pass rate of Higher ...

Cricket »

Mahmudullah Riyad passes ten years in international cricket

Sports Reporter :Mahmudullah Riyad have passed ten years in international cricket. Riyad made his debut in an ODI against Sri Lanka on 25th July in 2007 at Colombo, the capital city of Sri Lanka. He made his debut memorable scoring 36 runs and bagging two wickets for 28 runs. Riyad ...

Sports »

Britain`s Adam Peaty swims when setting a new world record in a men`s 50-meter breaststroke heat during the swimming competitions of the World Aquatics Championships in Budapest, Hungary on Tuesday.

Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Write a comment to this news