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Home » Industry News » Details
10 May 2012
NBR will introduce online tax payment system from May 26

The National Board of Revenue (NBR) will introduce e-payment from May 26 in a bid to facilitate taxpayers to pay taxes through online.

Prime Minister Sheikh Hasina is expected to inaugurate the online tax payment system, first-of-its-kind in Bangladesh, on that day.

The National Board of Revenue (NBR) will sign a tri-partite agreement next week with Sonali bank and Information Technology Consultant Limited (ITCL), a wing of Q-cash.

Tax officials said the tripartite agreement will be signed to simplify and expedite collection of all types of fees and taxes of NBR.

NBR Wednesday held an introductory meeting of online tax payment at a city hotel.

A committee of the NBR is working on introducing the online tax payment and tax return system with the financial support of International Finance Corporation (IFC).

In the first phase, large taxpayers, both individual and corporate, will come under the e-payment of tax.

Taxpayers will not have to stand in a long queue for payment of tax after introduction of the e-payment system. They can pay tax including income tax, VAT and customs duty from anywhere in the world. There will be no additional cost for payment of taxes through online.

NBR, Bangladesh Bank, Sonali bank and office of the Comptroller and Auditor General of Bangladesh will be co-coordinator of the electronic payment system. Q-cash will be processor of the whole system to deposit the money from account of taxpayers to public exchequer.

The revenue board has selected a total of 26 banks for online tax payment.

The banks are :Bank Asia, Basic Bank, Bangladesh Commerce Bank, Eastern Bank, IFIC bank, ICB Islamic Bank, Janata Bank, Jamuna Bank, Mercantile bank, Mutual Trust Bank, National Bank, NCC bank, Pubali bank, Shahjalal Islami Bank, Social Islami Bank, Standard Bank, State Bank of India, The City bank, Trust bank, Uttara Bank, Exim Bank, Citibank NA, Dhaka Bank, Southeast Bank, United Commercial Bank and Brac Bank.

Taxpayers can pay tax through debit, credit or VISA card.

Standard Chartered Bank, HSBC and Dutch-Bangla Bank will be included in the process within a short time.

The NBR will introduce the system with a slogan-'Pay online, anytime any where.'

Earlier, the revenue board introduced online tax return system in different zones.

Officials said online tax return submission was not so popular among the taxpayers due to absence of e-payment facilities.

Taxpayers claimed that they have to face the hassle of payment although they submitted returns through online, said a senior tax official.

The NBR launched the online tax return system in July 2009, for large taxpayers -- both individual and corporate. But only a handful number of taxpayers availed the facilities of online tax return submission.

Experts have long been suggesting the government to introduce the e-payment of tax to reduce hassle and harassment in tax payment.

Personal contact between taxpayers and taxmen will be reduced significantly with the e-payment of tax.

Source:http://www.thefinancialexpress-bd.com

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