Home ›› 10 Dec 2021 ›› News
The complexity surrounding lawsuits filed over irregularities in this sector is hindering revenue collection as the National Board of Revenue is finding it difficult to tackle such challenges, the agency’s Chairman Abu Hena Md Rahmatul Muneem said on Thursday.
He made the remark at a press conference on Thursday to mark the National VAT Day – which is being observed today. The VAT Week also began the same day. The board has been observing this event since 2011 to encourage the people into paying VAT.
Speaking at his office in Dhaka, the NBR chairman highlighted various activities of the VAT Day, mentioning that more than 36 per cent of the revenue collected by this board comes from the VAT sector.
Adding that the NBR’s revenue collection efforts are being hampered by the lawsuits, he said initiatives are underway to expedite the disposal of such cases to increase revenue collection.
Muneem further said in many occasions, cases were filed due to wrong assessments coming from the officials, and the board has made arrangements to train the officers to prevent such issues.
Presenting revenue data, the NBR chairman said, “In the July-November period of the current financial year, growth was 15 per cent compared to the same period last year. Collection reached Tk 1 lakh 267 crore during that period, compared to Tk 87,194 crore last year.”
Expressing satisfaction over the revenue collection progress, Rahmatul Muneem said, “If the reforms currently undertaken are implemented, the revenue collection will increase manifold.
