DHAKA: Bangladesh National Board of Revenue said in a statement that board has planned to settle tax disputes out of court.
The settlement of about 23,000 tax cases through the Alternative Dispute Resolution (ADR) system can unlock Tk 28,000 crore in revenue receipts for the NBR.
The NBR will organize seminars and workshops on the importance of ADR. The NBR has asked its officials to organize meetings with the taxpayers related to the ADR, according to a statement.
The tax administration will also hold a meeting with the representatives of business chambers and associations by March.
“The NBR thinks the settlement of cases through ADR will be instrumental for the taxpayers and the revenue administrator.”
The initiative came as tax receipts fell short of targets because of the declining economic activities amid political unrest.
The tax authority logged Tk 69,465 crore in the first seven months of this fiscal year, falling 3.28 percent short of the target for the period. The revenue target for July-January was Tk 71,825 crore, while it is Tk 149,720 crore for the full year.
