The National Board of Revenue is supporting growth of local industries to promote economic development and create more jobs, said its chairman Abu Hena Md Rahmatul Muneem on Sunday. He was speaking at a press conference at the NBR Bhaban, to highlight the contribution of the revenue board to the national development. Through policy measures and tax incentives, NBR is encouraging ‘Made in Bangladesh’ along with the expansion of domestic industries and employment, he said. This will be continued even if some particular sectors are getting 10 years tax holiday facility, he said. Also read: NBR dreams to cross revenue Tk3.0 lakh crore in FY 22 Now, the revenue board earns 33 per cent of revenue from income tax, 38 per cent from Value Added Tax (VAT), and 28 per cent from import duty excise duty. “We are planning to extent tax net and VAT collection areas along with monitoring its submission to the treasury,” Muneem said. The NBR is achieveing 7 per cent growth in revenue collection. The country’s GDP size has become Tk4,449,919 crore in FY2022-23, a rise by 556 per cent compared to Tk 797,538 crore in FY2009-10, he said. The NBR Chairman said that NBR achieved satisfactory growth in the revenue collection in FY 22, with collection of Tk3.16 lakh crore. Also read: NBR to install 10,000 EFD to prevent VAT evasion In FY-11 (2010-11) the NBR’s revenue collection was Tk79403 crore which now stands at Tk 3.16 lakh crore. This jump in revenue earning contributed to implementing the annual development program (ADP). At the same time it helped cut dependency on foreign loans, Muneem said. At present, NBR is supporting 85 per cent of the budget from internal resources. Both the ADP size and foreign dependency on ADP implementation came down over the years as the impact of people's contribution to revenue, he said. In FY2010-11 the size of ADP was Tk35,880 crore which now climbed to Tk 217175 crore in FY 2021-22. Similarly, the contribution of revenue increased in ADP implementation and the ratio of foreign loans in the ADP implementation decreased, the NBR chief said. NBR members and senior revenue officials were present at the press conference.

Smuggling of gold has not decreased despite allowing its import legally, NBR Chairman Abu Hena Rahmatul Muneem said on Saturday. The head of National Board of Revenue (NBR) said this while addressing as the chief guest 13th round lottery draw at the conference room of NBR building in the city on Saturday. He said the government has formulated a policy to encourage gold imports in the country through legal channels. Despite that move, smuggling increased which seems very difficult to stop, he pointed out.  He said the government is working to restore stability in the country’s gold market to minimize smuggling. "Gold is used not only to evade revenue but also for illegal transactions. I don't know whether the gold smuggling can be stopped completely. Because gold is smuggled in many ways all over the world, this is the reality,” Muneem said. “Even then we are trying to figure out how to prevent smuggling. Measures will be taken in the next budget to facilitate gold imports,” he added. He said, "There is dissatisfaction with the VAT machine EFD. The price of the product should be determined by including the price of VAT. Consumers are discouraged when it comes to collecting VAT separately.

National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem has said that the government under Prime Minister Sheikh Hasina is empowering the transgender and hijra (hermaphrodite) community through multiple effective ventures as a policy priority of the state. He made the statement at the award-giving ceremony of the ‘Inspiring Transgender and Hijra Volunteer Award 2021’, where he was the chief guest on Wednesday at the Sufia Kamal Auditorium in the National Museum in the capital. At the ceremony, NBR Chairman said that the Prime Minister has encouraged organizations through exempting taxes for the employers, to hire the transgender and hijra workers as a process to empower the Transgender and Hijra community. He also stated that the culture of detachment between the families and the transgender and hijra people can be eliminated through the process of ensuring their empowerment, thus they would be considered as the assets for their parents. Read: Where a vulnerable community found they could live in dignity NBR Chairman also added that he is directly supervising the recruitment of transgender and hijra workers in different organizations and also working with the concerned ministries to raise awareness among the concerned in the educational institutions about transgender and hijra issues, including the name change in their National Identity Card. In celebration of the ‘International Youth Day 2021,’ Bandhu Social Welfare Society (Bandhu) initiated the award to recognize transgender and hijra youth activists for their voluntary works during the ongoing Covid-19 pandemic. Three trans women were awarded at the ceremony including Ashiqul Islam Sajib (Sanjibani), a social worker known for her voluntary work on burying and cremating dead bodies during the pandemic. Deputy Inspector General (DIG) of Police Habibur Rahman, BPM (BAR), PPM (BAR), was also present as ‘Guest of Honour’ at the event, alongside prominent model and dancer Sadia Islam Mou. Renowned dance artist and Chairperson of Bandhu Social Welfare Society Anisul Islam Hero chaired the award-giving ceremony. For more than two decades, the Bandhu Social Welfare Society (Bandhu) has been working towards improving the quality of life through providing healthcare services and human rights support for the gender diverse population in Bangladesh. Read: Ashrayan: In Hatikumrul, a transgender community's hopes thrive with permanent address With the help of different donor organizations and individuals, Bandhu has provided relief, financial aid and emergency healthcare support for 13,628 transgenders and hijras in the last year. Through its networking, an additional 10,500 community members have received relief support from different GO and NGO organizations.  

The National Board of Revenue (NBR) has devised five strategies to boost its revenue collection offsetting the negative impacts of the Covid-19 pandemic.

The High Court on Monday asked for details of Bangladeshi nationals who have dual citizenship and passports and are also suspected of amassing wealth abroad through money laundering. 

Chairman of National Board of Revenue (NBR) Abu Hena Md. Rahmatul Muneem, paid a visit to the FBCCI's newly renovated FBCCI Icon at 60, Motijheel on Saturday.

National Board of Revenue (NBR) chairman Abu Hena Md. Rahmatul Muneem has said that no organisation can raise questions over legalisation of untaxed money, popularly known as black money, and its subsequent investment availing amnesty in the budget for 2020-21 fiscal.

The National Board of Revenue (NBR) on Thursday introduced Value Added Tax (VAT) e-payment system aiming to simplify the VAT return submission process.