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BSS
  01 Aug 2021, 19:59

Some 24.30 lakh taxpayers submit returns last fiscal

   DHAKA, Aug 1, 2021 (BSS) - The number of submission of returns by
individual taxpayers increased by almost 15 percent in the last fiscal
year (FY21) despite the COVID-19 pandemic as a total of 24,30,645 TIN
holders submitted their returns during that period.

   According to the National Board of Revenue (NBR), a total of
21,14,385 individual taxpayers submitted their returns in the FY20.
Some 3,16,260 more individual taxpayers submitted their returns in the
last fiscal year.

   Talking to BSS, NBR member (income tax policy) Md Alamgir Hossain
said that although the entire country went through the pandemic, but
under the directives of Prime Minister Sheikh Hasina, the NBR had
tried to stand beside the common people during that period.

  "The revenue board offices did not remained closed for a single day
while the revenue collection as well as the number of returns
increased in that period since all tax related services remained
open," he added.

  Alamgir also opined that the revenue collection increased due to
strict monitoring and some legal changes in realizing tax at source.

  He said, "Since it has been made mandatory to submit returns by all
TIN holders, the number of submission of tax returns increased in the
last year. Besides, awareness has been created among people in
submitting returns and we're getting its benefits,"

  The number of TIN holders in the country is 56 lakh. The revenue
collection in the last fiscal year (FY21) totaled 2.60 lakh crore
which is also 20 percent higher than the FY20 when the revenue
collection totaled Taka 2,16,540 crore.

  In the last fiscal year (FY21), Taka 85,224 crore was collected from
income tax, Taka 97,490 crore from VAT and Taka 77,150 crore from
Customs duty.

 

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