Highest taxpayers to get tax-card from this fiscal

The much-awaited tax-card will be distributed from the current fiscal year (FY), 2011-12, to honour both the individual and corporate income taxpayers for the highest amount of tax payments.

Taxpayers will get the card on the basis of this criterion from FY 2009-10. The card, purported to giving social recognition and status to the highest taxpayers, will remain valid for one year.

The tax-card holders will enjoy special privileges while receiving, using or availing themselves of, the facilities in areas relating to healthcare, ports, banking, hotel, education and other public services.

The National Board of Revenue (NBR) recently issued a gazette notification on the Tax Card Policy. According to the policy, the tax-card will not be given to those who are already, or will be, the recipients of the national award as top and long-term taxpayers. Besides, tax or loan defaulters will not get the card.

“The NBR will prepare a list to award tax-cards to 10 top individual taxpayers and 10 corporate income taxpayers,” said a senior income tax official.

The revenue board has taken some time to finalise the tax-card policy, as it underwent through several changes, he said. The proposal for awarding tax-card was first submitted by the Dhaka Chamber of Commerce and Industry (DCCI) in FY 2009-10.

Former president of the DCCI Abul Kasem Khan said: “We are pleased that the government has accepted our proposal, and is going to introduce the tax-noted.” The taxpayers will be encouraged to pay tax duly, if they are socially recognised, he said.

“The government should introduce different types of tax-cards to honour all taxpayers on the basis of their income tax payment. Tax-cards can be given to the highest amount of taxpayers among different categories of taxpayers also,” he said, referring to a proposal of the DCCI submitted last year.

Genuine tax-payers lose interest in payment of proper amount of taxes, as they feel deprived of the benefits and services which should normally be available to them as expeditiously as possible, some analysts said.

News Source: 
The Financial Express