NBR well prepared to face revenue collection challenges

Staff Reporter :
Many challenges are ahead in revenue collection due to national and international reasons but they are ready to overcome, said Abu Hena Md Rahmatul Muneem, Chairman of The National Board of Revenue (NBR).
“NBR is well prepared to face the challenges. We will try to continue growth rate (of revenue) despite the challenges,” he said while speaking in a press briefing in the conference room of the revenue board in the capital on Thursday.
The press conference was organised on the occasion of ‘National VAT Day’ to be observed on December 10. NBR highlighted different initiatives to increase the revenue collections.
Replying to the question on IMF’s recommendation to reduce VAT exemption, Muneem said, “We are rationalising it and it’s a continuous process. We can’t withdraw everything (VAT exemption) overnight.”
He, however, termed ‘VAT exemption’ as support on businesses or policy support.
“The size of the development budget is increasing day by day and the country’s economy is getting bigger. So, more money is needed to implement the increased budget and, in this case, VAT is in the first place among the internal sectors,” Muneem said.
The field-level officers and employees of the VAT department of the NBR have been working tirelessly to achieve the revenue target, he added.
The NBR will observe the VAT Day and VAT Week in the capital and other divisional cities this month with the theme “Pay VAT online, take part in nation building.”
The revenue board has chalked out various programmes to hold the National VAT Day on December 10 and the National VAT Week from December 10-15.
However, due to the Covid situation, several programmes including the procession on VAT Day have been cancelled this time.
Besides, NBR will organise seminars in VAT offices and special services will also be provided in there.
Regarding the VAT day, the NBR Chairman said that although many programmes have been cancelled on VAT Day this time due to the Covid-19 situation, initiatives have been taken to provide special services to the taxpayers in all VAT offices.
He said special emphasis is being laid on raising VAT awareness among the taxpayers during this year’s VAT Day and VAT Week.
Customers will be notified via SMS from 10 to 15 December through all mobile companies in the country as part of important VAT related promotional activities, he said.
Extensive publicity has been taken in radio, television, print and online media. In addition, stickers and leaflets are being distributed, he said.
Like the previous years, the highest taxpayers and organisations would be given honour in the production, services and business sectors.
Finance Minister AHM Mustafa Kamal will be present at the award giving ceremony at the Institution of Diploma Engineers, Bangladesh (IDEB) on December 10.