Mandatory submission of tax returns for all suggested

FE Report

Public Administration Adviser to the Prime Minister HT Imam Saturday said mandatory submission of income tax returns should be introduced for all, whether people have taxable income or not, to ensure proper tax collection.

He also stressed the need for imposition of additional tax on those who have earned 'windfall gain' because of government's development work.

He made these recommendations at a seminar arranged by the BCS (Taxation) Association on "Proposed new income tax law 2012: relevant thoughts and review" at city's BIAM auditorium.

"The revenue board can look into the growth centres at upazila level where some people have earned lots of money but are not aware of income tax payment," he said.

The income tax officials should make them aware about payment of income tax by expanding the net, he added.

He said income tax collection could be raised by public-private partnership (PPP) where people have to pay extra money to enjoy facility or improve infrastructures.

He also urged the revenue board to simplify the income tax payment system and adequately train up taxmen.

He inaugurated a website of the taxation association in the programme.

Income tax member Aminur Rahman, who heads the policy wing, presented a brief note explaining details of the proposed income tax law.

Mr Rahman said the new law will clarify some confusions on determining tax on the income like regular share business income, money saved from travelling allowance (TA) bills, maintenance of house rents, transfer of agricultural land etc.

The new law will also include transfer pricing to check wide-spread tax evasion through the strategy.

The association president Quader Sarker said income tax collection will be enhanced to Tk 500 billion by 20015-16 from Tk 180 billion in 2009-10 after implementation of the expansion plan.