Large Taxpayer Unit (LTU) of the National Board of Revenue (NBR) has named British American Tobacco Bangladesh (BATB) as one of the top taxpayers of the country in the fiscal year 2020-21.
This recognition was given to BATB in the manufacturing department for its contribution in paying income tax, said a press release issued by BATB on Wednesday.
Governor of Bangladesh Bank, Fazle Kabir handed over the recognition to BAT Bangladesh Chairman Golam Mainuddin and Head of External Affairs Sheikh Shabab Ahmed at a ceremony held at a hotel in the capital on Tuesday.
NBR Chairman of Abu Hena Mohammad Rahmatul Muneem; LTU Commissioner Md Iqbal Hossain along with representatives of other top taxpayers in various departments also attended the ceremony.
LTU has achieved the revenue collection target of BDT 24,000 crore for the Fiscal Year 2020-21.
On the occasion of achieving this target, 30 organizations and 3 source tax deducting authorities and companies have been awarded special honorary certificates in different categories.
Along with income tax, BAT Bangladesh is the highest contributor of Value Added Tax (VAT) as well.
In the last fiscal year, the company has deposited about Tk 25,000 crore in the government treasury as Value Added Tax (VAT) and Supplementary Duty.
According to the release, BAT Bangladesh alone contributes around 10% of the total internal revenue of the country.
Mentioning the importance of income tax in the development of the country's economy, Bangladesh Bank Governor Fazle Kabir said, "Bangladesh is now out of the list of least developed countries and is now a developing country. We need a lot of money to maintain this dignity."
"And in this case, the responsibility of the revenue department is the highest. To achieve the desired success in the income tax collection, we need to ensure good governance in economic management," added Fazle Kabir.
NBR Chairman Abu Hena Md Rahmatul Muneem said, "Bangladesh is able to complete big projects like Padma Bridge with its own funds because the taxpayers pay taxes. The Prime Minister has always urged us to grow as a self-reliant nation. It will be possible only with your (taxpayers') cooperation. "
In this regard, BAT Bangladesh Chairman Golam Mainuddin said, "BAT has been continuously contributing to the country's internal revenue in Bangladesh. Receipt of this Special Certificate of Honor from the Large Taxpayer Unit (LTU) is a special recognition. We will continue to stand by the government in the future as partners in meeting Bangladesh's ambitious goals. "