BOOSTING REVENUE COLLECTION

NBR speeds up ADR method

Following suspension of the implementation of the new VAT law, the National Board of Revenue (NBR) is now putting emphasis on disposing of long-pending cases through Alternative Dispute Resolution (ADR) method to boost the revenue collection for achieving the target in the current fiscal year, reports UNB.

 The country's revenue collecting authority is now in discomfort as the government has scrapped their move to introduce the unified 15 percent value added tax (VAT) system.

Parliament in June last delayed the introduction of the unified VAT system by two years following widespread criticism from businessmen as well as MPs from both ruling and opposition benches.

All commissionaretes have been asked to make a list of long-pending cases which can be settled through ADR, a senior NBR official said.

According to the available data, some Tk 3,060.33 crore remains unrealised due to customs-related cases pending with different courts, including the High Court. The amount is Tk 5,845.43 crore for the VAT-related cases while Tk 8,167.08 crore for the tax-related cases.

During a recent review meeting with the commissioners of income tax, VAT and Customs held at the NBR headquarters, NBR Chairman Md Nojibur Rahman has asked the officials concerned to expedite the ADR method to dispose of these pending cases, the NBR official told the news agency.

At the meeting, emphasis was given on utilising the ADR system to settle the cases. As part of the initiative, separate focal point officials have been appointed for each of the wings, he said wishing not to be named.

The NBR introduced the ADR system on July 1, 2012 to speed up the disposal of the revenue-related cases through out-of-court settlement.

 

BOOSTING REVENUE COLLECTION

NBR speeds up ADR method

Following suspension of the implementation of the new VAT law, the National Board of Revenue (NBR) is now putting emphasis on disposing of long-pending cases through Alternative Dispute Resolution (ADR) method to boost the revenue collection for achieving the target in the current fiscal year, reports UNB. The countrys revenue collecting authority is now in discomfort as the government has scrapped their move to introduce the unified 15 percent value added tax (VAT) system. Parliament in June last delayed the introduction of the unified VAT system by two years following widespread criticism from businessmen as well as MPs from both ruling and opposition benches. All commissionaretes have been asked to make a list of long-pending cases which can be settled through ADR, a senior NBR official said. According to the available data, some Tk 3,060.33 crore remains unrealised due to customs-related cases pending with different courts, including the High Court. The amount is Tk 5,845.43 crore for the VAT-related cases while Tk 8,167.08 crore for the tax-related cases. During a recent review meeting with the commissioners of income tax, VAT and Customs held at the NBR headquarters, NBR Chairman Md Nojibur Rahman has asked the officials concerned to expedite the ADR method to dispose of these pending cases, the NBR official told the news agency. At the meeting, emphasis was given on utilising the ADR system to settle the cases. As part of the initiative, separate focal point officials have been appointed for each of the wings, he said wishing not to be named. The NBR introduced the ADR system on July 1, 2012 to speed up the disposal of the revenue-related cases through out-of-court settlement.