Strict tax watch on 257 big firms
Large taxpayer unit to yield Tk 2,000cr more a year
Rejaul Karim Byron
The National Board of Revenue (NBR) has cast the net of its large taxpayer unit (LTU) wider, bringing another 257 leading companies under its fold.The NBR believes this would help increase tax collection from large companies Tk 2,000 crore a year from the present Tk 144 crore. The NBR introduced the LTU in 1999. But the LTU activities remained limited due to structural constraints. The LTU will have 140 banks, insurance companies and financial institutions. The rest 117 represent other sectors. They include different units of Beximco Group, Apex Group, Akij Group, Square Textiles, Transcom, Reliance, Prime, Lafarge, Dandy Dyeing, Rahim Afroze Batteries, Bashundhara Paper Mills, Bangladesh Lamps, Fisons, Orion, Monno Ceramics, Bata Shoe company, Gonoshasthya Phamaceuticals and Antibiotics, Meghna Vegetable Oil, British American Tobacco, Rangs Electronics and a host of textiles, cement, chemicals and other companies. Power Grid Company and Mobil-Jamuna Lubricants are also included in the LTU. "The new system will help us monitor these companies closely," said a NBR top official. "One of the LTU wings will deal with tax collection. Another will gather information and resolve disputes. Another wing will conduct audits. The LTU will now have more than 100 staff." UK's Department for International Development provided Tk 44 crore to set up these wings. Expanding the LTU also fulfils one of the conditions of the International Monetary Fund (IMF) to qualify Bangladesh for the second instalment of $70 million Poverty Reduction Growth Facility (PRGF) loan.
|
|
