Chakrir Khobor My WordPress Blog
Source: Online
Date of the Circular: 17/0106/2024
Last Date of Application: 13/11/2024
Company Name : National Board of Revenue (NBR)
Website : http://www.nbr.gov.bd
Facebook Page
Wikipedia
Total Post : 130
The National Board of Revenue (NBR) is an important agency of the Government of Bangladesh, responsible for the internal revenue management and revenue collection of the country. It works under the Ministry of Finance of Bangladesh and oversees the revenue collection activities of the country. The NBR is mainly responsible for the collection of income tax, VAT (Value Added Tax), customs and other taxes and fees.
### Main responsibilities of the NBR:
1. **Income Tax Collection**: To supervise the collection of income tax by individuals and organizations.
2. **VAT Collection**: To arrange for the collection of VAT (Value Added Tax) on goods and services.
3. **Duty Collection**: To ensure the collection of customs duties on the country’s imports and exports.
4. **Revenue Law Making and Implementation**: To formulate revenue-related laws and to implement them properly.
5. **Tax Administration Development**: To take various initiatives to increase transparency and accessibility in the tax system.
### Structure of NBR:
The National Board of Revenue is headed by a Chairman and a few members, who oversee various departments such as Income Tax, VAT, Customs, etc. The activities of the Board are carried out through central and regional offices.
### Objectives of NBR:
– To increase revenue collection.
– To create awareness among the people regarding taxes.
– To bring transparency in the formulation and implementation of tax policies.
– To establish good fiscal governance to ensure the economic development of the country.
In addition, the NBR has from time to time announced simplification of tax filing, introduction of digital tax system and various incentives, which provide benefits to taxpayers.
