Muhith expects more taxpayers by year-end

Finance Minister AMA Muhith expects the number of registered taxpayers to rise by about 11 percent to 25 lakh by the end of the fiscal year, which will facilitate the government to collect more taxes.

“We see the number of new taxpayers rising,” he said at the opening ceremony yesterday of the weeklong tax fair at the National Board of Revenue's under-construction headquarters in Agargaon, Dhaka.

The annual event that is in its seventh year also began in other divisional cities as well, attracting hundreds of taxpayers on the first day. The show will continue until November 7.

In Dhaka, taxpayers thronged the venue hours before the formal opening yesterday and taxmen were seen attending taxpayers' queries.

The fair will also take place in the district towns for four days and in 29 upazilas for two days between November 1 and November 7, according to NBR officials. The NBR will also hold the show in 57 upazilas through mobile vans.

Muhith, who also inaugurated the online tax returns filing system at the fair, said 3.5 lakh fresh taxpayers registered for taxpayer identification numbers since the beginning of the fiscal year.

Currently, more than 22.5 lakh people have TINs, according to NBR.

Muhith said it is disgraceful that only 13 lakh people submit tax returns out of a population of 16 crore. However, the recent rise in registered taxpayers is encouraging, he added.

“It is a matter of pride, but from a global point of view, a very low amount of tax is collected in our country,” said Muhith, citing that income tax collection is the lowest in Bangladesh among its neighbours.

He said the country's tax collection and public budget is not up to the mark.

“But this time, it seems we will be able to come out of that disgraceful situation in the next two years,” said Muhith, citing that he would frame a Tk 500,000 crore budget for fiscal 2018-19.

“It now appears that it will be possible,” he said, adding that revenue collection in the first quarter of fiscal 2016-17 exceeded the target for the period.

It would be possible for Bangladesh to become a developed nation by 2041, because of people's desire to make progress.

At the fair this year, NBR will transport taxpayers by shuttle bus to the venue from four spots -- Mirpur 2, Rajlakhmi Uttara, Officers' Club and Dhaka University.

After the launch of an online tax return filing system, taxpayers will now be able to file and submit their income tax returns at etaxnbr.gov.bd.

They will not have to visit the tax offices, said NBR officials.

To file returns, taxpayers will have to fill up a form to collect a username and password from their respective tax office where they submit returns, said officials at the e-filing booth at the fair.

State Minister for Finance and Planning MA Mannan said the tax fair has received praise abroad.

NBR Chairman Md Nojibur Rahman said the revenue authority works to create a taxpayer-friendly culture.

Abdul Matlub Ahmad, president of Federation of Bangladesh Chambers of Commerce and Industry, said taxpayers' growing participation in the fair shows that people want to pay taxes and VAT.

He suggested the government open a tax wing at Bangladesh missions abroad.