FE Report
The National Board of Revenue (NBR) will launch the online TIN (taxpayers identification number) registration system today (Monday) in a bid to issue digital TINs to the taxpayers.
Finance Minister AMA Muhith will inaugurate the 'e-TIN registration' system at a ceremony in the city.
After launching the system, all income taxpayers will have to get new TINs by December 31 next through e-TIN registration. The existing TINs will be invalid from January 1, 2014.
The taxmen will verify the information in a few minutes through cross-checking with National Identity Cards and Registrar of Joint Stock Companies.
Taxpayers will have to furnish the new 12-digit TINs in the tax returns that will be submitted in fiscal year (FY) 2013-14.
The TIN database will not have any fake and duplicate numbers with the implementation of e-TIN. Currently, there are 3.8 million TIN holders while only 1.4 million taxpayers submit tax returns.
TIN automation is one of the conditions of the International Monetary Fund (IMF) for disbursement of loans under Extended Credit Facility (ECF).
The National Board of Revenue (NBR) will launch the online TIN (taxpayers identification number) registration system today (Monday) in a bid to issue digital TINs to the taxpayers.
Finance Minister AMA Muhith will inaugurate the 'e-TIN registration' system at a ceremony in the city.
After launching the system, all income taxpayers will have to get new TINs by December 31 next through e-TIN registration. The existing TINs will be invalid from January 1, 2014.
The taxmen will verify the information in a few minutes through cross-checking with National Identity Cards and Registrar of Joint Stock Companies.
Taxpayers will have to furnish the new 12-digit TINs in the tax returns that will be submitted in fiscal year (FY) 2013-14.
The TIN database will not have any fake and duplicate numbers with the implementation of e-TIN. Currently, there are 3.8 million TIN holders while only 1.4 million taxpayers submit tax returns.
TIN automation is one of the conditions of the International Monetary Fund (IMF) for disbursement of loans under Extended Credit Facility (ECF).
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