Income tax collection marks 12.6% growth in 7 months - Share market analysis of dhaka stock exchange, Bangladesh

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13 February, 2018 10:21 AM Source: Dhaka Tribune

Income tax collection witnessed a 12.6 percent growth in the first seven months of the current fiscal (FY 2017-18) as the revenue authorities collected Taka 32,755 crore, up Taka 3,595 crore from the same period of the previous fiscal (FY2016-17).

During the July-January period of FY2016-17, National Board of Revenue (NBR) collected Taka 29,160 crore as income tax.

“We’re getting response from taxpayers . . . they are now more conscious about the payment of income tax. It is the outcome of our income tax friendly measures . . . we are carrying out awareness building campaign and using information technology to encourage people to pay tax,” said NBR member (Income tax Admin) Md Abdur Razzak.

Talking to BSS, he said, the NBR has also intensified its monitoring to check tax dodging.

Submission of tax returns witnessed a 36 percent rise during the July- January period of FY2017-18 as the NBR received 16 lakh returns, which were 12.48 lakh in the previous fiscal. At present, there are 33 lakh e-TIN holders in the country, according to the NBR.

Abdur Razzak said the NBR has taken steps to build cordial relations with taxpayers so that they can pay tax without any harassment.

Alongside, efficient and skilled officials have been given posting at proper places to intensify tax collection drives, he added. 

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