The National Board of Revenue got little response from the company taxpayers in obtaining online generated taxpayers identification number even in three months after introduction of the system in July as only 3,182 existing firms registered for e-TINs. Now the revenue board is going to instruct its field offices in next week for completing e-TIN registration process by themselves on behalf of existing TIN holding companies by mid-December, officials of the NBR said.
‘There are around 60,000 companies in the country registered with the NBR but only 3,182 companies received e-TINs until September 3, Khandokar Khurshid Kamal, a first secretary of the NBR, told New Age on Thursday.
Experiencing such slow progress in re-registration for e-TINs by company taxpayers, the NBR has decided to complete re-registration process by itself, he said.
All field offices will be instructed to do the job as it has all necessary information of company taxpayers in hand, he added.
The NBR, however, got better responses from the new companies and provided e-TINs to 1,614 new companies.
According to NBR decision, all individual and company taxpayers who have already valid TIN will have to reregister in the NBR’s online system for obtaining new e-TINs by December.
New taxpayers will also have to take e-TINs by this time as from January, 2014 all existing TINs will become invalid.
In providing e-TINs to company taxpayers, the revenue board will check its authenticity through database of the office of the Registrar of Joint Stock Companies and Firms.
In case of new companies, all directors will have to provide e-TINs as individual taxpayers along with documents related to registration with RJSC.
According to RJSC, there are 1.2 lakh companies and firms registered with them.
Of those, only around 60,000 companies have TIN, NBR officials said.
They said that only about 17,000 companies submitted income tax returns in last fiscal year of 2012-13.
Most of the remaining firms which do not submit returns are either dormant or have fake TINs, they said.
‘That is why we cannot take any action against the non-compliance companies. But from January 2014, after completion of e-TIN registration process, the NBR will take action against them,’ he said.
The NBR usually receives more than half of its income tax from company taxpayers.
In FY 2011-12, it received Tk 16,188 crore or 56.50 per cent of income tax from them, the NBR data showed.
-With New Age input
