Advance tax collection
In Bangladesh many people possess luxurious cars, apartments in posh areas, and lands as well as cottage (bagan bari) on the outskirts of the city. But how many of them pay taxes? Unfortu-nately, only 2.2-2.3 million people have TIN. Among them 0.45 million (4.5lac) submitted Tax return last year.
I am just wondering how easy it is to have property without paying any tax in our country. Not to pay tax has become common philosophy of Bangladeshi people.
The government also needs to support the taxpayers after their retirement like in the western countries. One thing I must appreciate: the government is taking advance tax while giving fitness certificates to the cars.
My proposal is to implement advance tax collection system for those who will purchase land, apartments and cars. In addition, audit should be done within the 3 months period of TIN granted, to make sure that TIN holders would submit mandatory return every fiscal year. By doing so, government can make more people pay taxes and also increase revenue collection. Authorities concerned need to implement law regarding tax collection for our national development. Sooner it is done the better.
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