NBR selects 50 for coveted ‘Tax Card’

The National Board of Revenue (NBR) has preliminarily selected 50 names for the prestigious ‘Tax Card’ for 2012-13 and 2013-14 fiscal years.

Of the 50, according to sources at the NBR, 40 names will finally be selected for the Tax Card to honour top taxpayers in different sectors, including the service and manufacturing one, for their contributions to the national exchequer, reports UNB.

“This will support and help them reduce hassles in tax filing. The Tax Card is also aimed at encouraging other taxpayers to regularly and properly pay taxes,” an NBR official told UNB.

nbr 222A three-member committee, constituted by the NBR, is working to finalise the names, he said adding that it will send the 50 names to the Bangladesh Bank to be sure whether these people are on loan defaulters’ list or not.

These names will then be sent to the Home Affairs Ministry and after getting the green signal from there the names will be announced, the NBR official added.

Of the 40 names, 20 names — 10 from each fiscal year—will be individuals and 20 — also 10 from each year—will be corporate houses.

The chairmen of the board of the corporate bodies or managing directors or chief executive officers will be eligible to get the Tax Card.

This will be the second time where the NBR will be honouring the taxpayers and giving the Tax Card as the first time was in 2012.

The NBR took the initiative to honour the honest taxpayers for encouraging the taxpayers to pay their taxes regularly.

These cardholders will get privileges in government hospitals, airlines and other public transports, and to be invited to state programmes, said an NBR official.

The Tax Card holders will be able to use the CIP (Commercially Important Person) lounge at airport.

The card and crest will be given on September 15 in the ‘Income Tax Day’. Finance Minister AMA Muhith is scheduled to hand over the card and the crest to the taxpayers.

Besides, the dependents, wife/husband, sons and daughters, of the Card holders will get the special privileges for getting the cabin at public hospitals.

The validity of this card is one year and then it has to be returned to the NBR.

Talking to UNB, a senior NBR official said such award always encourages the taxpayers for paying their due taxes in time.

“We have to encourage people to pay their due taxes in time. That’s why the government took the decision a couple of years back,” he said.

In this connection, he also mentioned that such award would help the NBR realise its gigantic revenue target of collecting of Tk 149,720 crore for this fiscal (2014-15).

The budget for the current fiscal set an overall revenue collection target of TK 1,82,954 crore. Of the target, the share of the NBR is estimated at TK 1,49,720 crore, up Tk 24,720 crore than the last fiscal’s.

In terms of composition of revenue, income tax will be the major source of income for the current fiscal with the target set at Tk 57,500 crore.

The NBR has targeted to net 300,000 new taxpayers in the fiscal year. This programme will surely help us get new taxpayers as well, he added.