-75 pc cashless collection by 2031 and 100 pc by 2041
National Board of Revenue (NBR) wants to go 100 percent cashless within the next 17 years. The NBR authority believes that it will be possible to accumulate money immediately and prevent revenue evasion. Multiple national dailies reported that NBR will go cashless by encouraging taxpayers to move customs, VAT, and tax payments to the e-payment system.
Besides, NBR is going to take the help of Artificial Intelligence (AI) and Business Intelligence (BI) tools for revenue collection, and prevention of evasion. The plan, which was taken up this year, was published on the NBR website before this Eid.
It was known that the organization has set a target of 75 percent cashless collection by 2031 and 100 pc by 2041. The cashless system will cover power generating companies, BRTA, NTMC, BAPZA, BEZA, BGMEA, BKMEA, Bangladesh Bank, IBUS, various scheduled banks, City Corporation, Ministry of Lands, BTRC, CCI&E.
In addition, at the production distributor and wholesale level, introducing an e-invoicing system; Ensuring effective performance improvement management through the preparation of the TRP system; Creating a database for disposal of revenue litigation proceedings; Organizing various seminars and training and preparing a training management system to increase technical-professional skills of NBR and field level employees under its jurisdiction; Prepare smart content and take 360-degree promotion strategy.
By 2025, five 25 pc, one 50 pc, and another 75 pc implementation targets have been set. And by 2031, 50 pc of four plans, 75 pc of two, and 100 pc of implementation tax will be implemented. And seven plans will take time till 2041 to complete 100 percent.
NBR said, if the action plan is implemented, it will be possible to make technology-based, monitoring, evaluation, and control of income tax, customs, import-export, and excise duty collection activities. There will be technological development in VAT collection and management, revenue collection will be expanded, technology can be used in revenue-related cases, professional skills of NBR field-level officers will increase, revenue will increase, and maximum participation of people will be ensured in building a cashless, entrepreneurial, knowledge-based economy in revenue collection.
Dr. Muhammad Abdul Mazid, the former chairman of NBR, told the media that since 1990, at least 24 such projects and plans have been taken under new names and titles. But NBR is still there. These are not new. These are eyewashes. None of those who will reform the NBR and those for whom it will be done want to be reformed. The reform of NBR should be done; by a third party or state, or pressure should be applied. There must be political will, only then these could be implemented.
ZH
