Tax payment goes online in March

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Tax payment goes online in March

Star Business Report

The National Board of Revenue (NBR) will introduce an e-payment system in March with an objective of reducing taxpayers’ hassles in paying taxes.

After the introduction of the e-payment method, people will be able to pay taxes through ATM booth, or online by debit or credit card from anywhere.

Taxpayers will need to use tax identification numbers (TINs) to log on to the website of the NBR and will get acknowledgement receipts as a proof to their payments.

“It will be a revolutionary step,” said NBR Chairman Nasiruddin Ahmed at a press meet at his office, organsied to share various achievements and future initiatives taken to boost revenue collection.

Revenue collection by the tax administrator rose 17 percent to Tk 31,605 crore in the July-November period of the current fiscal year from Tk 27,035 crore during the same period a year ago.

The latest collection is higher than the target of the tax administrator.

To boost collection further, the tax collector has already established 13 new income tax zones and four VAT (value added tax) commissionerates.

The NBR chief said the collection in the first five months is 35 percent of the total revenue collection target for fiscal 2011-12.

“We hope to collect the remaining 65 percent in the next seven months,” he said.

Ahmed said Sonali Bank is carrying out a trial run for the introduction of the e-payment system.

“We will get enough revenue once the method is introduced,” he said.

He said the NBR will launch alternative dispute resolution (ADR) in February to speed up the settlement of 25,000 pending cases involving Tk 20,000 crore.

Ahmed said the NBR will launch ASYCUDA World, a customs data software, in February for full automation of customs.

As per the initiative, the tax administrator has already inked an agreement with United Nations Conference on Trade and Development.

“The use of the technology (ASYCUDA World) will help prevent leakage in duty collection through various means such as under invoicing,” said Ahmed.

“From January we are starting an intensive monitoring to ensure tax compliance. We will begin a massive drive in the field level in this regard,” the NBR chief said.

The tax administrator has also taken steps to keep Chittagong Customs House open round the clock in a bid to facilitate overseas trade.

Beginning from February next year, the Chittagong customs office will initially remain open till 10pm instead of 5pm now. Banks will also remain open, he said.

Ahmed said the tax administrator has also taken steps to set up an Integrity Unit at the NBR to ensure accountability and transparency of tax officials.

“The Integrity Unit will work as an independent unit. We are now working on the framework,” he said.

For automation, the World Bank has given assurance to finance under its Program for Results arm.

Ahmed said the WB will provide $200-300 million for the automation of the NBR.

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