The National Board of Revenue (NBR) has formed a taskforce to find out companies without Tax Identification Numbers (TINs) and bring them under the tax net.
The seven-member taskforce has been formed to make sure that all companies obtain TINs and file tax returns. The taskforce is also aimed at stopping filing of fake audit reports to the government.
A circular issued by the Central Intelligence Cell (CIC) on Wednesday reads that the taskforce – led by its director Md Shabbir Ahmed – will identify the registered companies which are not receiving TIN or filing income tax returns, make a list of them, plan and coordinate on the field-level to bring them under the tax net.
The taskforce will also take necessary steps to prevent the filing of the fake audit reports.
It will recommend how companies without TINs can be made register for taxes and file tax returns, and how to make sure the companies file authentic audit reports. The taskforce will also monitor the progress and file reports in this regard.
The taskforce will contact the registrar of Joint Stock Companies and Firms (RJSC) and collect information on taxpayers. It will also contact the Institute of Chartered Accountants of Bangladesh (ICAB) to implement measures on stopping filing of fake audit reports.
Also, the tax information management and services wing and the ICT wing will help the taskforce with data matching and other IT-related work that include detecting taxpayers without TINs.
The taskforce will regularly update the NBR chairman on all developments.