The New Nation - Internet Edition

BUSINESS REPORT

The country will have to rely on income tax for meeting public expenses in the wake of gradual decline in the share of customs duty in the government's revenue earning, said Finance Adviser Dr AB Mirza Azizul Islam.

'There is no alternative to mobilising domestic resources and accordingly collection of income tax should be increased,' he said speaking at a reception given to 316 taxpayers at the Bangladesh-China Friendship Conference Centre in the city on Monday.

The National Board of Revenue organised the function to honour the taxpayers who fell in its 'long-term taxpayer' and 'highest taxpayer' categories on the occasion of National Income Tax Day, the first of its kind to encourage people to pay tax.

The board also brought out a colourful rally in the city. NBR chairman Abdul Mazid inaugurated the rally participated by officials and employees of the board.

'We have to decide now or never whether our next generation will live on loan and aid or stand on their own foot. If we opt for the second, we have no other way but to pay our taxes in due time and at due rates,' the NBR chairman told the reception.

'We have to lay emphasis on income tax collection as this is not only a main source of revenue collection but also a weapon for ensuring social justice,' the finance adviser said, admitting that the government could not take proper initiatives for collecting adequate revenue from the internal resources.

Mirza Azizul Islam however mentioned that the government had taken certain steps to make tax payment easier and smoother for taxpayers' convenience.

The steps are: simplification of the income-tax return system, introducing universal self-assessment system, cutback on the company tax rate and discretionary powers of tax officials, and training of NBR officials on automation system.

Certificates and crests were handed over to 12 taxpayers - six from each of the two categories.

The six taxpayers in the long-term category who received the tokens of honour are Sayedur Rahim from Dhaka division, Samson H Chowdhury from Rajshahi division, Mohammad Neamat Ullah from Chittagong, Khandokar Sakhawat Hossain from Khulna, Abdul Hamid Miah from Sylhet and Akhteruzzaman from Barisal division.

The six highest taxpayers are Rahim Uddin Bharasha from Rajshahi division, Mohammad Yunus Ali from Dhaka, Mohammad Jalal Uddin from Sylhet, Kazi Mozaharul Huq from Khulna, Mashiur Rahman Chowdhury from Chittagong, and Manirul Islam Talukder from Barisal division.