The National Board of Revenue (NBR) has urged businesspeople to come up with specific allegations if they face any harassment at the hands of tax officials instead of making random complaints.

Top business leaders yesterday urged the government to take steps to put an end to the harassment businesses face at the hands of VAT and tax officials and extend the loan moratorium period to help them recover from the coronavirus pandemic.

The National Board of Revenue (NBR) has seen a massive surge in registrations for Taxpayer Identification Numbers (TIN) by companies, mainly due to its increased monitoring and efforts to bring all registered firms under the tax net.

The National Board of Revenue (NBR) is examining the scope for giving tax  rebate on the income of individuals who are investing in the shariah-based sukuk bond, said a senior official of the tax authority yesterday.

Mobile phone manufacturing or assembly plants in hi-tech parks and economic zones will get VAT benefits, according to a recent notification from the National Board of Revenue (NBR).

The National Board of Revenue (NBR) has formulated the country’s first-ever comprehensive policy for private inland container depots (ICDs) in order to facilitate their operations and expand Bangladesh’s foreign trade.

The Customs House Chattogram (CHC) and the VAT Intelligence have already conducted several investigations to find the destination of fake cigarette band rolls that dodged the eyes of authorities.

Only 37 per cent of 62.77 lakh registered taxpayers filed income tax returns until January 2, the last day for filing income and wealth statements by individuals, according to the National Board of Revenue (NBR).

Revenue collection grew 11 per cent year-on-year in November powered by the revival of economic activities and higher income tax payments by individuals ahead of the return submission deadline.

Today is the last day for submission of tax returns although the deadline was two days back on Friday, December 31, 2020, which being a weekend had prompted the National Board of Revenue to shift the cut-off day to a workday.

The government today extended by two years the contract keeping Abu Hena Md Rahmatul Muneem as senior secretary and chairman of the National Board of Revenue (NBR), according to a public administration ministry notification.

With many export-oriented firms facing losses for cancellation of export orders by buyers or other factors and sit with stock of raw materials, the National Board of Revenue (NBR) has relaxed rules regarding holding period of raw materials imported duty-free by firms under bonded warehouse licence.

The National Board of Revenue yesterday awarded nine firms for paying the highest amounts in value-added tax in the 2019-20 fiscal year.

Revenue collection in Bangladesh grew at a decent pace of 15 per cent in the first five months of the current fiscal year as business activities turned around from the slowdown caused by the coronavirus pandemic. 

Businesspeople yesterday said the government should formulate a new income tax law with the objective to iron out all trust issues between taxpayers and taxmen.

The VAT Intelligence has sued Nahid Enterprise for evading value-added tax of Tk 275 crore between July 2016 and May 2021.

The National Board of Revenue (NBR) yesterday extended the deadline for income tax return submission by a month.

The tax rates will come down if more people are brought under the tax net and if the government reduces the tax rate, people will be less inclined towards evading tax, speakers told a seminar yesterday.

The National Board of Revenue will honour the country’s top taxpayers today to celebrate their compliance and commitment to paying taxes regularly.

The government plans to merge development and revenue budgets, amend income tax laws and establish a procurement authority in the next three years as part of a set of reforms aimed at boosting revenue collection and ensuring transparency in expenditure.