DHAKA, Dec 30, 2019 (BSS) – 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 revenue…and
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.”