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National Board Of Revenue

NBR's intelligence efforts pay off

The central intelligence cell (CIC) of the National Board of Revenue has detected tax evasion of Tk 1,581 crore by individuals and firms in nine years to fiscal 2013-14. The intelligence unit, which was formed in January 2004, has so far collected Tk 725 crore from these tax dodgers, according to a report by the CIC. The amount detected is insignificant given the culture of rampant tax dodging in the country, said Ahsan H Mansur, executive director of Policy Research Institute...

NBR to check its chief's account info

NBR to check its chief's account info

In an extraordinary move, the Central Intelligence Cell of the National Board of Revenue yesterday sought details of all bank accounts held by its incumbent chairman, Md Ghulam Hussain. The CIC gave banks seven days to furnish information on Hussain's current, savings and foreign currency accounts, credit cards, savings certificates and any other investment instruments and schemes. The NBR intelligence wing also sought detailed account information of Hussain's wife, Zakia Mansoor Hussain, who, according to the NBR website, teaches economics at a college. “I myself have given the approval to CIC to go ahead with the investigation for the sake of transparency,” Hussain told The Daily Star last night over telephone. On paper,...

NBR’s intelligence cell seeks bank account details of chairman

NBR’s intelligence cell seeks bank account details of chairman

In an unusual move, the Central Intelligence Cell of the National Board of Revenue today sought details on all bank accounts held by Md Ghulam Hussain, the incumbent chairman of the tax authority. The CIC gave banks seven days to furnish information on Hussain’s current, savings and foreign currency accounts, credit cards, savings certificates and any other investment instruments and schemes. The letter was signed by Md Nurul Amin, joint director of the CIC. The intelligence wing also sought information on bank accounts of Hussain's wife, Zakia Mansoor Hussain, who, according to the NBR chairman's profile posted on the tax authority’s website, teaches economics at a college.  

Tax returns deadline extended till Nov 30

Tax returns deadline extended till Nov 30

The National Board of Revenue (NBR) has extended the deadline for submitting income tax returns until November 30 this year. The decision was taken following written requests submitted by several businesses’ and professional bodies, said Syed MA Momen, public relations office of the NBR, today. According to him, many people could not file their tax...

Govt set to extend tax return deadline to Nov 30

Govt set to extend tax return deadline to Nov 30

The government is going to extend the deadline for submitting income tax return to November 30.   Earlier, the timeline was extended once which expires tomorrow. The finance ministry officials said the finance minister already on Thursday approved the proposal of the National Board of Revenue (NBR) for time extension. The NBR is likely to make...

Money launderers to be revealed: Muhith

The National Board of Revenue is set to prepare a list of individuals who have been laundering money abroad, Finance Minister AMA Muhith said yesterday. He, however, refused to give further details. “It's a sensitive issue -- such activities are done in confidence. As a result, nothing further may be given about this,” Muhith told reporters when asked if the government would take similar steps against money launderers as India did. The new Indian government led by Narendra Modi on Monday published...

Tax receipts rise 16pc

Revenue collection rose 16 percent year-on-year to Tk 28,220 crore during July-September of the current fiscal year, thanks to a boost in receipts in September, according to preliminary data. "The improvement indicates that the economy is coming out of a depressed mood," said Md Bashir Uddin Ahmed, a member of income tax at the National Board of Revenue. Ahmed said excess liquidity in the banking sector is coming down. A number of banks posted profit in the first quarter, he said. Last...

NBR zooms in on homeowners abroad

NBR zooms in on homeowners abroad

The National Board of Revenue is set to gather information on Bangladeshis who have bought properties abroad, its Chairman Md Ghulam Hussain said yesterday. The decision was taken to check whether the individuals have paid an appropriate amount of taxes to the state coffers, Hussain said during a programme organised by Eastern Bank Ltd...

Graft allegation: NBR suspends commissioner Hafizur

Graft allegation: NBR suspends commissioner Hafizur

National Board of Revenue (NBR) has suspended commissioner M Hafizur Rahman on corruption charges. NBR issued an order in this regard today. The Anti-Corruption Commission filed a case against Hafizur for allegedly accumulating wealth illegally. Hafizur, who is now in abroad, remained absent at his office for long, according to Bangla daily Prothom Alo.

Mismatch of new taxpayers, returns submission

Every year new taxpayers enter the tax bracket but curiously, the additions are not accurately reflected in the tax returns submission numbers. Since 2009, the National Board of Revenue has opened 5.47 lakh files of persons with taxable income through surveys. It issued another 1.18 lakh taxpayers identification numbers (TINs) at tax fairs, to take the total number of entrants to the tax bracket between 2009 and 2013 to 6.65 lakh.  However, of the new taxpayers, only 3.6 lakh submitted their income...

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