The weeklong tax fair ended yesterday amid a rush of taxpayers, enabling the revenue authority to register its highest revenues from the showcase.The event fetched the National Board of Revenue (NBR) Tk 1,117.4 crore this year, up 34.46 percent from the previous year, thanks to its expansion throughout the country. This year, the show was held in all divisional cities, 54 district towns and three hilly districts.It also beat previous records of visitor turnout and tax returns submission.“The fair marked huge crowd and spontaneous participation of taxpayers, particularly on the last day,” the NBR said in a statement.
This was the fourth time that the NBR held the tax fair, offering people one-stop services such as assistance with filing of tax returns and tax payment either manually or electronically.
Taxpayers said the show enabled them to complete tax-related work without any hassle, unlike in field offices where they have to deal with delays and rent-seeking behaviour of staff.One offering which went down well with the visitors is the assistance with the online registration and re-registration of taxpayer identification numbers (TINs), launched in July to establish an electronic payment system.So much so that the NBR had to increase the number of service booths at Officers’ Club in Dhaka.Some 74,356 existing TIN holders re-registered online to comply with NBR’s directive to complete electronic re-registration by December 31.Over the past several years, the collection of income or direct tax has been growing thanks to steady economic growth and rising income.Revenue authority’s motivational campaigns for tax payment and efforts to curb tax evasion and increase tax net facilitated the growing income tax receipts, now the second biggest source of revenue after value-added tax.Income tax collection shot up 28 percent year-on-year in July to Tk 1,837 crore, according to NBR.For fiscal 2013-14, the revenue authority aims to collect Tk 48,297 crore in income tax, 32 percent higher than last fiscal year’s receipts.Meanwhile, the NBR aims to raise the contribution of direct tax to 51 percent of total receipts by fiscal 2020-21.
This was the fourth time that the NBR held the tax fair, offering people one-stop services such as assistance with filing of tax returns and tax payment either manually or electronically.
Taxpayers said the show enabled them to complete tax-related work without any hassle, unlike in field offices where they have to deal with delays and rent-seeking behaviour of staff.One offering which went down well with the visitors is the assistance with the online registration and re-registration of taxpayer identification numbers (TINs), launched in July to establish an electronic payment system.So much so that the NBR had to increase the number of service booths at Officers’ Club in Dhaka.Some 74,356 existing TIN holders re-registered online to comply with NBR’s directive to complete electronic re-registration by December 31.Over the past several years, the collection of income or direct tax has been growing thanks to steady economic growth and rising income.Revenue authority’s motivational campaigns for tax payment and efforts to curb tax evasion and increase tax net facilitated the growing income tax receipts, now the second biggest source of revenue after value-added tax.Income tax collection shot up 28 percent year-on-year in July to Tk 1,837 crore, according to NBR.For fiscal 2013-14, the revenue authority aims to collect Tk 48,297 crore in income tax, 32 percent higher than last fiscal year’s receipts.Meanwhile, the NBR aims to raise the contribution of direct tax to 51 percent of total receipts by fiscal 2020-21.
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