NBR in the harsh position to increase and accumulate the tax rate In order to increase revenue

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staff reporter : The National Board of Revenue (NBR) has taken a stern position to increase and accumulate tax on sources. At present, 60-65 percent of the income tax comes from this sector. But the goal of NBR is to get 80 percent of the tax on the source. For this reason, the tax zones have been instructed to increase the coverage of the source and to be more careful in the field. In the last fiscal year, 67 percent of the total revenue collected from the income tax sector came from the source of income tax. Generally there is a pattern of tax deduction by the end of the year, but in reality NBR cuts the tax on TBS (tax deduction at source) from business, services and income sources throughout the year. These information is known in NBR related sources.
According to the relevant sources, tax is now collected from 56 sectors. It is notable that the public – private sector employees’ salaries, contractor’s bill, savings certificate and interest income of bank deposits, land sales, newspapers, radio-TV ads, professional technical service providers or technical assistance fees, catering services, cleaning services, collection and Recovery Service, Private Security Service, Manpower Supply Service, Creative Media Service, public relations services, event management services, training-workshop fees, technical service providers or service providers in mobile banking fees, credit rating service fees, motor garage or workshop fees, private container port or dockyard service fees, scheduled for shipping agency commission The source tax is collected at the rate. But in order to increase its capacities, the process of cutting income tax is going on from 61 sources in the next budget by adding five more sectors to the list.
According to sources, the contribution of the sector has increased for several years due to the increase in the tax collection. In the last fiscal year 2017-18, NBR revenue earned from income tax was 65 thousand 698 crore Among them, the tax deducted from sources of various sectors has come to 43 thousand 256 billion, which is 67 percent of the gross income tax of zero percent. In the last fiscal year, more than 20 percent of corporate taxes including accumulated taxes have been accumulated. And on the basis of returns, 7 percent is collected. Earlier, in the 2016-17 fiscal year, about 53 thousand rupees were collected from sources of tax from 31,924 crore or 61 percent of the tax. Usar contributed 60 percent to the total income tax in the financial year 2015-2016.
According to sources, the method of tax deduction at the source level of earnings rather than one-time earnings at the end of the year is popular worldwide. A large part of the tax is collected in all countries of the world. In this country, NBR has cut taxes by paying 5 percent per month against different taxpayers’ income and different services. Later it was adjusted at the end of the year. Meanwhile, according to the Income Tax Ordinance of the last 1984, there are provisions for cutting and collecting taxes in specific sectors. Tax authorities have been urged to tax the tax authorities along with tax authorities. Especially the taxpayers and suppliers must keep the tax deduction at the time of billing and other services. If a taxpayer or organization does not pay tax on the source, he has been empowered to identify as a default tax payer under section 57 of the law. If the designated officer, who is involved in collecting taxes, fails to get the tax on the source, he will be personally liable and will be charged with interest from him. On the other hand, the NBR has instructed the Field Officer of Income Tax Department to follow the legal provisions of tax deduction for the source of the tax. Specifically, according to Article 58 (3) of the Income Tax Ordinance and 18 (7) of the Income Tax Rules, the tax cutter will be required to submit the details of the tax deduction every month to the relevant income tax authority. In this context, Senior Secretary of NBR Chairman and Internal Resources Division Mosharraf Hossain Bhuiyan said that the income from taxation is more than 60 percent of total NBR withdrawal from tax. It is possible to extend it further. For this reason it is necessary to increase the monitoring of the sources in the source, whether it is properly cut or cut, but whether it is being submitted in time, it is necessary to increase monitoring. At the same time, tax officials have been taking steps to bring out the fact that they are recovering from sources from the companies.

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