Govt eyes 40 lakh income taxpayers by FY20, says Muhith [ Tritiyo Matra News ]

Govt eyes 40 lakh income taxpayers by FY20, says Muhith

Local September 16, 2015

Finance minister Abul Maal Abdul Muhith on Tuesday said that the government had set a target to increase the number of registered income taxpayers to 40 lakh or 2 per cent of country’s total population by the financial year 2019-2020 in a bid to boost income tax collection.
According to National Board of Revenue, the number of income taxpayers in the FY15 was nearly 12 lakh.
At a programme organised by the NBR at Sonargaon Hotel in the capital Dhaka on the occasion of National Income Tax Day-2015, the finance minister said that the target was very challenging but existing taxpayers, mainly business community, should come forward to achieve the target.
At the programme, the revenue board awarded 387 taxpayers in recognition to their contribution to the national exchequer by paying the highest and long-time income tax at national, city corporation and district levels for the FY15.
Of the awardees, 20 individual and corporate taxpayers, 10 from each category, got tax cards and crests for paying the highest income tax at national level for the year while the remaining 367 taxpayers received crests for paying income tax in the highest amount and for paying tax for a long time at city corporation and district levels.
The NBR selected two long-time taxpayers and three highest taxpayers from each city corporation and each district for the award.
Muhith said, ‘Currently, only 11 lakh registered or taxpayer identification number holders submit income tax returns which are less than 1 per cent of the country’s total population of more than 16 crore.’
Till now, only 17 lakh people have obtained TINs online.
‘This is very shameful for a nation where even 1 per cent of its population does not pay income tax as registered taxpayers and we have to improve the situation,’ Muhith said.
‘Now I am thinking on how to reach the target and you should share the responsibility,’ he said.
State minister for finance and planning MA Mannan advised the taxmen to improve the quality of services related to income tax payment.
Federation of Bangladesh Chambers of Commerce and Industry president Abdul Matlub Ahmad demanded that the government provide the highest income taxpayers from each district with commercially important person status to encourage people to pay more tax.
He also suggested introduction of pension benefit for taxpayers after retirement from jobs, business and professions.
Matlub also called upon the businessmen for paying income tax regularly so that the government could implement big infrastructural projects to facilitate economic activities.
NBR chairman Md Nojibur Rahman assured the taxpayers of improved and time-bound services.
He also said that the government could consider the proposal of the FBCCI president on giving CIP status to
the highest income taxpayers at district levels as an incentive for paying tax.
NBR member Abdur Razzak also spoke at the programme.
The finance minister, state minister for finance and other guests handed over the crests to the highest individual and corporate taxpayers at national level, selected taxpayers from Dhaka city corporations and districts in the Dhaka Division.
Taxpayers selected for the award from other city corporations and districts were awarded at programmes at divisional headquarters.
Earlier in the morning, the revenue board held a rally that started from the NBR premises in the capital. The finance minister, state minister for finance, NBR chairman and members and other high officials, cricketers of national team, artistes and taxpayers attended the rally.
New Age Barisal correspondent reports: The NBR accorded a reception to 35 best taxpayers of the division including the Barisal City Corporation.
The revenue board also brought out a procession and held discussions on National Income Tax Day. A weeklong tax fair was inaugurated on the day at Ashwini Kumar Hall of the in Barisal city.
Industries minister Amir Hossain Amu, Barisal divisional commissioner Md Gaus, Barisal Chamber of Commerce and Industries president Saidur Rahman Rintu, Barisal region commissioner of taxes Zahid Hasan, Barisal region deputy commissioner of taxes Abdur Razzak attended the programmes, among others.
In the fair, booths and help desks are available for issuing e-TINs, collecting tax returns and providing legal advices.