NBR plans merger of VAT and Income Tax units | The Daily Star
12:00 AM, August 13, 2008 / LAST MODIFIED: 12:00 AM, August 13, 2008

NBR plans merger of VAT and Income Tax units

National Board of Revenue (NBR) is planning to merge the VAT (Value Added Tax) unit and Income Tax unit of NBR to ease revenue collection procedures, said its chairman Mohammad Abdul Majid yesterday .
It also plans to form a consultation committee comprising of members from both the public and private sector to solicit essential fiscal measure support, he said.
The committee members, retired officials of NBR and different ministries and members of the private sector will give recommendations to the government for pragmatic fiscal measures, the NBR chief said at the luncheon meeting of French-Bangladesh Chamber of Commerce and Industry in Dhaka.
“Sometimes the public sector cannot comprehend the real situation of the private sector, so the committee will be able to make appropriate decisions,” said Majid, who was the guest speaker at the function.
It will be possible to take congenial fiscal measures, favourable to the private sector, if the decisions are taken in consultation with the committee, he said. However, the formation of such a committee is still being thought over and no practical measures have yet been taken in this regard.
Speaking at the function, First Counselor of French Embassy in Dhaka Patrick Branco lauded the NBR for its success in revenue collection in the previous fiscal year. In 2007-08, the NBR exceeded the revenue target.
While Branco wanted to know the secret behind achieving success in revenue collection, the NBR chairman said it was the sincerity of the NBR officials, government anti-corruption drive, good governance and consciousness of people that helped achieve success.
He however, told the function that presently 2.4 million people in the country have TIN numbers while 20 million people are actually eligible.
He also said the government's revenue income target for the current fiscal year is Tk 54.5 billion.
Alamgir M Rahman, president of the French-Bangla chamber, Dhruv Pant, vice president, among others, also spoke at the function.

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