NBR expects Tk 300cr from income tax fair
Countrywide weeklong show begins Sept 17
The income tax fair is aimed at creating awareness about tax payment and boosting revenue collection.
The NBR expects to receive 100,000 visitors at the show, the second of its kind in Bangladesh, where only 9 lakh out of 26 lakh tax identification number holders pay tax now.
"We expect people to come voluntarily to pay tax, and that's why we are oraganising the fair,” said NBR Chairman Nasiruddin Ahmed at a news conference at its office yesterday.
In Dhaka, the fair will be held at Officers' Club on Bailey Road.
It will remain open for visitors from 10am to 6pm. The visitors will obtain TIN instantly, get aid in filling in tax return forms, assess taxes by using the "tax calculator" software available at the NBR website.
The taxpayers will also be able to deposit their taxes at bank booths to be available at the fair.
Ahmed said the NBR will provide these services to visitors and prospective taxpayers through 50 booths at the fair.
The tax administrator organises the event, inspired by the response among the new taxpayers it received in the first income tax fair last year.
Some 52,440 TIN holders submitted their tax returns, facilitating the NBR to collect Tk 113 crore in income tax receipts from the fair.
Of the 52,440 TINs submitted at the fair last year, one third was of the new taxpayers, said Ahmed, also secretary to the Internal Resources Division of the finance ministry.
“The success of the last year's fair inspired us to hold it for the second time. We didn't expect such crowds last year,'' said the NBR chief.
Last year, the NBR organised fair only in Dhaka and Chittagong. The event will spread in other five divisional cities this year.
Marking the fair, the tax authority will honour 350 large and long time taxpayers with the objective of motivating others to pay taxes regularly and help the government boost revenue collection to implement annual budgetary plans.
The NBR saw a 27 percent rise in total revenue collection to Tk 79,091 crore in fiscal 2010-11 from Tk 62,042 crore the previous year. Income tax is the second biggest source of revenue after value added tax.