Tag: the National Board of Revenue

NBR plans online tax reforms to reduce hassles

- Times Report -

The National Board of Revenue (NBR) is set to implement several initiatives aimed at reducing taxpayer hassles and enhancing revenue collection for the national exchequer. According to NBR sources, upcoming changes include the introduction of online corporate tax filing, an online tax return submission system for income tax lawyers, and a

NBR falls short in revenue collection in Q1 of FY25

- Times Report -

The National Board of Revenue (NBR) has continued to fall behind in collecting revenue, according to figures for the first four months of the current FY24-25 made available on Wednesday. The revenue collection saw a shortfall of Tk 30,767 crore at the end of October while the target was to earn

NBR embraces upgraded system to int’l standards

- Times Report -

The National Board of Revenue (NBR) has initiated steps towards data automation, aiming to implement an international-standard risk analysis system to better identify tax evaders. To support this effort, the revenue authority is prioritizing the collection of taxpayer data, which will be essential for applying risk management analytical tools. "We have issued

NBR to focus on out-of-court settlement of tax disputes

- Times Report -

The National Board of Revenue (NBR) is now putting its focus on settling the long pending cases through Alternative Dispute Resolution (ADR) system to boost the revenue collection. The revenue collecting authority of the country is at unease as the first two months of the running FY24-25 saw a setback in

NBR halves regulatory duty on sugar imports

- A H M Masum Billah -

The National Board of Revenue (NBR) on Wednesday reduced the regulatory duty on both refined and raw sugar imports by 50 percent to stabilize the local market prices. The duty has been cut from 30 percent to 15 percent, effective immediately. NBR explained that this measure is intended to make sugar

NBR seeks to suspend share transfer of 7 big cos

- Times Report -

The National Board of Revenue (NBR) has asked the office of Registrar of Joint Stock Companies  and  Firms to suspend transfer (purchase, sale and donation) of shares of seven big companies of the country immediately. These are Bashundhara Group, Orion Group, Summit Group, Beximco Group, S. Alam Group, NASA Group and

NBR cuts duty on import of potato, onion and pesticide

- Times Report -

The National Board of Revenue (NBR) has issued a notification reducing import duty on onion, potato and fertilizer , aiming to ease imports and increase the supply of these goods. The import duty on pesticides has been reduced to 5% from 25%, and all regulatory duties and value-added taxes (VAT) on

NBR’s three-pronged strategy to boost revenue collection

- Times Report -

Aiming to significantly boost revenue collection from domestic sources, the National Board of Revenue (NBR) is adopting a three-pronged approach. These are: digital transformation, expansion of tax net, and enhancing administrative capacity. The core idea is to make tax payments easy and transparent to improve taxpayer services which in turn will help