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Luxurious cars, owners under NBR scanner

Published : Saturday, 17 August, 2019 at 12:00 AM  Count : 733
Moshiur Ahmed Masum

The National Board of Revenue (NBR) has planned to launch a special drive to collect detained information about the owners of luxurious cars.
The aim of the NBR is to collect information if the owners of those cars have capability to buy luxurious cars and whether they have dodged taxes.
Under the move the revenue authority initially collected data of at least 1000 luxurious cars worth over Tk50 lakh as well as its owners.
The data have been collected from Bangladesh Road Transport Authority (BRTA). The cars include different models of Audi, Mercedes-Benz, Purse and BMW.
After getting those data field offices of the NBR have been asked to collect details about the luxurious cars as well as its owners' tax related issues.
The owners' investment in buying car will also come under scrutiny and whether he has taken any illegal depreciation facility.
In a recent letter, the Tax Survey and Inspection Wing of the NBR wrote to its field offices that taxpayer's trend of purchasing   luxurious cars under the respective field offices is increasing.
The letter asked them to furnish with information on tax related information of luxurious cars as well as its owners' including violation of car purchase limit.
It also asked them to take information if owners own more than one car or whether they ignored investment information on buying cars and whether they have taken illegal depreciation facility.
Md Meftha Uddin Khan, Member of Tax Survey and Inspection of the NBR, said they collected luxurious cars and its owners' data to examine owners' purchasing power and whether taxes have been dodged.

"We have taken such move for the first time to see how luxurious car owners became owner, what the source of income was and whether taxes were dodged by any means," he told the Daily Observer.
"Punitive action will be taken against luxurious car owners if any anomalies or tax dodgings are found and all the luxurious cars that cost above Tk50 lakh will be brought under the NBR verification," he added.

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