NBR decides to launch drive to prevent use of fake TINs

The National Board of Revenue (NBR) has decided to launch a drive to detect the fake Tax Identification Numbers (TINs) for preventing its use by dishonest people on various purposes, reports UNB. The NBR will conduct an investigative survey to contain the use of fake TINs by a section of dishonest people, a senior NBR official involved with Income Tax wing told the news agency. According to the NBR sources, the revenue collecting authority has recently got a lot of allegations that unscrupulous people are evading tax through using fake TINs across the country. "The rate of using fake TINs has got a little bit higher in recent times and that's why the NBR has decided to go against these errant individuals," the official said.
Using fake TIN is a punishable offence as per the Income Tax Ordinance. As per the 124 (A) rules of the Ordinance any individual or organisation would face the punishment along with monetary fine if found guilty of using fake TINs. The punishment is three years of imprisonment or Tk 50,000 fine or both. There are some 27 areas where TIN is mandatory. TIN certificates are needed for opening letter of credit (L/C) for import, renewal of trade licence and car registration or renewal of registration, submitting tender documents for supply of goods or any contract, application for membership of a club registered under the Company Act, 1994, registration for purchase of land, building or an apartment, deed value of which exceeds 0.1 million taka, sanction of loan exceeding Tk 0.5 million to a person by commercial bank or leasing company. TINs are also required for getting credit card, ISD connection to any kind of telephone, being director of a company or sponsor shareholder of a company, renewal of membership of any trade body, issuance of drug licence, submitting a plan for construction of building for obtaining approval from Rajuk, CDA, KDA, and RDA, application for gas and electricity connection for commercial purpose in a city corporation, paurashava or cantonment board, submitting nomination forms for any election in upazila, paurashava, city corporation or Jatiya Sangsad. Besides, doctors, chartered accountants, cost and management accountants, lawyers and income tax practitioners also have to submit TIN certificates to have licences for their practice. NBR officials said people are using fake TINs due to it's wide range of use.

NBR decides to launch drive to prevent use of fake TINs

The National Board of Revenue (NBR) has decided to launch a drive to detect the fake Tax Identification Numbers (TINs) for preventing its use by dishonest people on various purposes, reports UNB. The NBR will conduct an investigative survey to contain the use of fake TINs by a section of dishonest people, a senior NBR official involved with Income Tax wing told the news agency. According to the NBR sources, the revenue collecting authority has recently got a lot of allegations that unscrupulous people are evading tax through using fake TINs across the country. The rate of using fake TINs has got a little bit higher in recent times and thats why the NBR has decided to go against these errant individuals, the official said. Using fake TIN is a punishable offence as per the Income Tax Ordinance. As per the 124 (A) rules of the Ordinance any individual or organisation would face the punishment along with monetary fine if found guilty of using fake TINs. The punishment is three years of imprisonment or Tk 50,000 fine or both. There are some 27 areas where TIN is mandatory. TIN certificates are needed for opening letter of credit (L/C) for import, renewal of trade licence and car registration or renewal of registration, submitting tender documents for supply of goods or any contract, application for membership of a club registered under the Company Act, 1994, registration for purchase of land, building or an apartment, deed value of which exceeds 0.1 million taka, sanction of loan exceeding Tk 0.5 million to a person by commercial bank or leasing company. TINs are also required for getting credit card, ISD connection to any kind of telephone, being director of a company or sponsor shareholder of a company, renewal of membership of any trade body, issuance of drug licence, submitting a plan for construction of building for obtaining approval from Rajuk, CDA, KDA, and RDA, application for gas and electricity connection for commercial purpose in a city corporation, paurashava or cantonment board, submitting nomination forms for any election in upazila, paurashava, city corporation or Jatiya Sangsad. Besides, doctors, chartered accountants, cost and management accountants, lawyers and income tax practitioners also have to submit TIN certificates to have licences for their practice. NBR officials said people are using fake TINs due to its wide range of use.