Tax Evasion
NBR targets 200 big businessmen
Jasim Uddin Khan
The National Board of Revenue (NBR) launches a drive next month to ascertain the actual income and expenditure of 200 businessmen under its large taxpayers' unit (LTU).The decision was taken recently as the NBR found directors of different companies had evaded income tax by hiding the particulars of their lifestyle as required by the NBR. The tax officials say there are mismatches between the directors' actual electricity, land phone and cellphone bills and the amount they show in the prescribed form. The NBR will soon issue letters to different government and private utility service providers to lend support to the tax officials in this regard, sources said. "We will give emphasis on examining their utility bills, specially electricity, land and mobile phone bills during the drive," a high official of the NBR said. "If we find gross mismatches between the bills and the amounts declared by the directors, we will then investigate their bank statements," the official said. The taxmen will primarily target 200 out of the 700 directors under the LTU. The remaining directors will also be brought under the drive if the NBR finds it necessary. The tax officials are hopeful of collecting around Tk 20 crore additional income tax from the directors by conducting the special drive. Another NBR official said the taxpayers under the LTU usually keep the lifestyle form empty or provide false information to hide their actual income and expenditure. The taxmen found that certain columns in the form such as utility bill, expenditure on children's education and foreign trip are usually left empty by the directors. "Recently we have identified some leading directors who provided false information about their utility costs," said an official in the LTU. The directors of banks, insurance, leasing, pharmaceuticals and cement companies, cellphone operators and some big manufacturing companies will be brought under the drive, the NBR sources said.
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