NBR to ask for property details of spouse of a car owner
Tasmiah Nuhiya Ahmed of DOT
 National Board of Revenue (NBR) wants to know the details of all kinds of assets and liabilities in the names of spouses, minor children or pets. There are allegations that people hide assets in the name of their spouses or children. As a result, tax officials do not know the actual assets of the taxpayer and his family, reports Prothom Alo.
 It is mandatory for taxpayers to file their assets every year. In addition to the annual income and expenditure, the NBR has laid down three conditions as to who should submit the statement of assets. First, if the total assets of the taxpayer exceed Tk. 40 lakhs; Secondly, if you own a motor vehicle and thirdly, if you have an investment in real estate or an apartment in the City Corporation area, then you have to submit the statement of assets.
Once a taxpayer fulfills a condition, it is mandatory to submit the statement of assets along with the income tax return stating where the assets are in the name of oneself, wife or husband, minor children or pets.
There are allegations that a class of taxpayers leave their assets in the name of their wives or children. It is known that many times they do this because there is no balance between income and expenditure. An average of 15,000 to 20,000 new private vehicles are registered with the Bangladesh Road Transport Authority (BRTA) every year. This means that the number of car owner is increasing every year. For that, NBR will know the vehicle registration information using BRTA server. Vehicle registration cannot be done without Tax Identification Number (TIN). With this source, the tax officials can easily find out whether any car owner has submitted the statement of assets of the family. The NBR’s Income Tax Department has taken initiative to digitally store taxpayer information from next September.