The National Board of Revenue has decided to discontinue the facility of importing luxury cars in the country by tourists under the Carnet De Passage as many of the tourists mostly foreign nationals of Bangladeshi origin do not re-export the cars imported under the facility, violating rules, finance ministry officials said.
NBR
NBR to consider Tk 115cr expense of m-banks, stock brokers tax-free
The National Board of Revenue may consider the Tk 115.06 crore as tax-free allowable expense for merchant banks and brokerage houses that they would waive to the small investors from interest on loans, officials concerned said. They said that in a letter in last week the finance ministry
NBR sets 36.82pc income tax growth target for next FY
The National Board of Revenue has fixed revenue collection target in income tax at Tk 48,300 crore with the highest growth rate at 36.82 per cent compared with the outgoing fiscal year of 2013-2014, officials concerned said. The target is up by Tk 13,000 crore than the target of Tk 34,300 crore
NBR faces pressure against tax net spread
The National Board of Revenue will focus on expanding tax net in achieving revenue collection target to be fixed for the upcoming national budget for the 2013-2014 financial year instead of imposing new and additional tax, said NBR chairman Ghulam Hussain. He, however, said that the revenue board was facing big
NBR cuts duty on fruit import
The National Board of Revenue has reduced supplementary duty by 10 per cent on import of all kinds of fresh fruit including mango, apple, orange, grapes and some dried fruits to keep their prices within the affordable level of the common people on the local market. The revenue board on Tuesday issued a salutatory
NBR under MPs’ pressure to reduce duty on bidi: chairman
A handful of lawmakers are creating pressure on the National Board of Revenue to reduce duty imposed on bidi, indigenous substitute of cigarette, in the upcoming budget of FY 2013-2014, alleged NBR chairman Ghulam Hussain. ‘We are under pressure as more than 70 Members
NBR slates sweetmeat, raw material traders for VAT evasion
PRE-BUDGET MEETING FY 2013-14 NBR slates sweetmeat, raw material traders for VAT evasion National Board of Revenue chairman Ghulam Hussain on Thursday came down heavily on the sweetmeat traders and other raw material suppliers for not providing buyers with the value-added tax Challan with the intention of evading VAT. At a pre-budget discussion with representatives ... Read more
NBR may miss revenue target for unrest, strikes
The National Board of Revenue may miss the revenue collection target of Tk 1,12,259 crore set for the current 2012-2013 financial year mainly due to frequent strikes and overall political unrest in the country, officials apprehended. Every hartal is taking heavy toll on revenue collection
Income tax collection up 29pc in July-Jan
But falls short of target The National Board of Revenue failed to achieve its revenue collection target from income tax set for July-January, although the revenue collection from the sector grew by 28.84 per cent in the period compared with the corresponding period of the previous year. According to the provisional data prepared by the ... Read more
NBR to sign deal with Mexico to check tax evasion by traders
The National Board of Revenue will sign a bilateral agreement with Mexico to exchange information on trade and customs related matters in a bid to prevent tax evasion by importers and exporters and smuggling of goods. ‘The revenue board has taken the initiative to check customs related offences and tax evasion in trade between the two countries,’ a ... Read more
20 highest taxpayers get NBR awards
The National Board of Revenue on Monday awarded the 20 highest individual and corporate income taxpayers of the 2009-2010 financial year in recognition of their contributions towards the nation’s economy. Finance minister Abul Maal Abdul Muhith handed over the tax cards and certificates to 10 individuals and 10 companies at a programme organised by the NBR ... Read more
Cooperatives come under NBR lens
The National Board of Revenue has brought the banking business of cooperative societies and cooperative banks under its scrutiny. The tax administrator also asked its field offices to examine tax records of the cooperatives that are doing banking business
Tax return deadline now Oct 31
The National Board of Revenue (NBR) yesterday extended the deadline for submission of income tax returns by one month. The deadline is now October 31, MA Quader Sarker, an official of tax administration and monitoring of NBR, said yesterday, adding, “We will in no way extend the time further.” The announcement of the time extension came ... Read more
Banks, tax offices remain open Saturday
All major and important branches at the divisional and the district levels of the government and private commercial banks will remain open on Saturday for the convenience of the taxpayers to submit tax returns and pay their taxes. On the same purpose, all the income tax offices of the National Board of Revenue will remain open on ... Read more
Taxpayers made to run around
Nurul Islam, who works at a private television channel, went to Segun Bagicha tax office on Tuesday to submit his return, as he has done over the past several years. He was taken aback when informed that his tax circle had been changed after an increase in the number of tax zones and circles by ... Read more
NBR cancels Robi’s VAT exemption of Tk 82.68cr
The National Board of Revenue cancelled exemption of mobile phone operator Robi’s value-added tax of Tk 82.68 crore because it did not submit a chalan against the exempted amount, said NBR officials on Tuesday. The Large Taxpayers Unit of the NBR on Tuesday cancelled the exemption and decided to adjust the amount from the money ... Read more
NBR collects Tk 34.88cr in tax fair on first day
The income tax fair drew huge crowd on it second day on Monday as people rushed to submit their tax returns, to seek tax-related information and to get new tax identification numbers hassle-free. Visitors at Officers’ Club in Dhaka said they got all tax-related services in a convenient way at the fair. They said at ... Read more
Income tax fair kicks off to boost receipts
A weeklong income tax fair kicked off across the country yesterday to provide tax related information and assistance to the existing and potential taxpayers. The National Board of Revenue (NBR) organised the show in seven divisional cities and 11 districts to issue TIN (taxpayer’s identification number) instantly, help file tax returns, submit and
NBR freezes 3 mobile co accounts
The National Board of Revenue on Thursday put a freeze on bank accounts of three mobile operators—Robi, Banglalink and Citycell—for not paying Tk 393.49 crore as supplementary duties and value added tax on SIM and RIM card sales, a senior NBR official said. The large taxpayers unit (LTU-VAT) of NBR sent a letter to all ... Read more
NBR to honour 360 taxpayers
The National Board of Revenue (NBR) will recognise 360 taxpayers to encourage people pay taxes regularly. It will award three highest taxpayers and two long-time taxpayers from each city corporation and district on September 15. A weeklong income tax fair starts September 16. The tax fair, third of its kind, will take place in all ... Read more