e-Tin registration grows by 26% in Q1

Electronic Taxpayer Identification Number (e-TIN) registration recorded 26 per cent growth with 4 lakh new entrants during the first quarter of the current fiscal year.

National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem made the disclosure on Tuesday in a briefing at his office in the capital’s Segunbagicha. Although the number of e-TIN holders has increased across the country, the number of tax return holders has not been on a par with the e-TIN, said the NBR chairman.

“Around 18 lakh people registered for e-TIN in the last 14 months accounting for a total 67.93 lakh. In the last financial year, 13 lakh people signed up for e-TIN projecting 26 per cent growth over the previous fiscal,” added the NBR boss.

“We are confident that we will be able to take the tax net to a desired level and hope to launch a comprehensive online tax payment service.”

The NBR chairman said that although TIN registration is mandatory, they are yet to be strict about it.

“We want the taxpayers file their returns on their own initiative. We started a door-to-door survey, which is now put on hold due to coronavirus,” he said, replying to a question.

According to the NBR, out of 50 lakh e-TIN holders, 22 lakh submitted returns last year. The revenue authority has decided not to hold the income tax fair for the second year due to the Covid-19 pandemic, but the authorities will provide services to taxpayers throughout November through its zonal offices.

It was informed at the press conference that the services related to return submission, assistance in taking e-TIN will be provided at the tax offices in November like that in the previous year instead of income tax fair.

Bangladesh will observe National Income Tax Day on November 30.