NBR makes tax rebates easier

The National Board of Revenue has asked its field offices to clear tax rebates of up to Tk 25,000 within a week as it looks to encourage people to pay tax.

A tax refund or tax rebate is refund on taxes when the tax liability is less than the taxes paid.

The move comes at a time when taxpayers are complaining about difficulties in getting tax refund owing to reluctance of taxmen.

“We have taken the initiative to encourage individual taxpayers, particularly salaried persons,” said an official of the NBR.

Many individual taxpayers have refund claims but they are just 2-3 percent of the total refund claims, he said. The bulk of the refund claims are made by firms.

In the letter issued last week, the tax administration also directed its offices to report to headquarters within 10 days of clearing the refund.

At present, the deputy commissioner of taxes can approve refunds of up to Tk 5,000. For amounts upwards of Tk 5,000 they must be approved by the joint commissioner.