NBR to conduct survey at sub-registry offices from next year

DHAKA The National Board of Revenue (NBR) has

initiated a move to scrutinize the proper use of Electronic Tax

Identification Number (ETIN) while buying or selling of flats and land as

well as to ascertain the actual value of those.

The income tax officials under various intelligence units of different tax

zones would conduct surveys at the sub-registry offices from the beginning of

the next year to this end.

Talking to the BSS, NBR member (tax survey) Meftah Uddin Khan said that

the ETINs are not often shown properly while buying and selling of flats and

land. Besides, over pricing or under pricing of land and flats often take

place during registration. For this, the government is losing revenueand

that's why initiative has been taken to conduct survey at the sub registry

offices, he added.

He said that the incident of under pricing of flats and land often take

place to evade tax side by side the over pricing of flats and land also take

place to get high amount of bank loans.

The NBR member hoped that such kind of survey by the NBR would unearth the

anomalies.

Officials at the NBR said that initially the survey would be conducted at

the sub-registry offices at Dhaka and Chattogram from January and later the

operations would be expanded to Sylhet, Rajshahi and Khulna.

Meftah said, After going to the sub-registry offices, the NBR officials

will scrutinize whether the given information on flat and land purchase or

sale is right or wrong. This will also let us know whether the ETINs are real

or fake.

Source: Bangladesh Sangbad Sangstha (BSS)