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:: NBR envisages Tk 1,12,000cr revenue in fiscal year 13 ~
The National Board of Revenue has made a primary projection of revenue earnings of Tk 1,12,000 crore for the next financial year which is Tk 20,130 crore more than that of the current fiscal year.

‘Primarily, the revenue board envisages to collect Tk 1,12,000 crore as revenue in the financial year 2012-13,’ NBR chairman Nasir Uddin Ahmed told New Age on Wednesday after launching alternative dispute resolution scheme for income tax and value added tax at a city hotel in Dhaka.
The projected amount is 22 per cent more than the target set for the current fiscal year. The tax administration set a collection target of Tk 91,870 crore in the 2011-12 financial year, envisaging a 21.52 per cent growth compared with the 2010-11 fiscal year.

The projection is purely at the primary stage and the amount may be increased or decreased after further assessment, the NBR chairman said, terming the revenue increasing issue as a sensitive issue.

At the ADR launching ceremony, the Federation of Bangladesh Chambers of Commerce and Industry president AK Azad said, quoting NBR chairman, that the revenue earnings will be Tk 1,12,000 crore in the next fiscal year.

‘The revenue earnings have become double in four years compared with the revenue of Tk 54,500 crore in the fiscal year 2008-2009,’ he said.

Despite this achievement, there is a huge set-back in expansion of revenue earnings as only one-third of the tax identification number holders submit their return.
According to the NBR data, there are around 30 lakh TIN holders in the country but only around 10 lakh submit their return.

The revenue board has to increase their enforcement activities to expand the tax net. He suggested the NBR to conduct drives in the luxurious residential areas to detect tax defaulting flat owners.

Source :

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