NBR to focus on arrears

The National Board of Revenue (NBR) will focus on arrears and quick disposal of pending cases to cover the shortfall in revenue collections amid worldwide economic meltdown.
“More than 40 percent revenue comes from duties. We may face a setback in the collection of duties due to the worldwide economic meltdown," NBR Chairman Abdul Mazid said at a discussion meeting at the Dhaka Chamber of Commerce and Industry (DCCI) yesterday.
The NBR chief said that during the preparation of next year's budget they would give emphasis on the item-wise impact of duty structure.
“We'll be ready to reduce duty structure of a particular item if it seems to us that such reduction will help create employment in the country,” he said.
DCCI President Zafar Osman said the government must have a correct policy for legalising undisclosed money from where the government could earn a substantial amount for its exchequer.