In the four years since the KPI Service Limited, founded by Chattogram’s Priyo Dey, started its journey in 2018 to provide income tax services and spreading awareness about filing tax returns, the company has helped bringing over 5,000 people under the tax net.
Priyo Dey started working on a business model to create tax awareness among marginal taxpayers, help people overcome fear over paying taxes and create new taxpayers. To implement the model at the marginal level, he moved to on-board influential teachers of the society.
The company, which has grown through a struggling beginning with an initial capital of Tk1,00,000, is now posting a yearly turnover of Tk50,00,000.
Since the beginning, the KPI Service Ltd has regularly organised workshops on income tax at educational institutions across the Chattogram division including the remote areas.
So far, KPI Service Ltd has organised over 500 workshops, which cover topics including income tax regulations, tax planning, TIN registration, income tax return filing and finance laws.
The company managed to generate 3,000 new taxpayers in its first two years and on an average 1,000 new taxpayers has availed its service to pay taxes. Currently the total number of clients in the company stands at 5156.
KPI also provides free TIN registration for teachers to encourage new tax payers.
In the fiscal year 2022-23 the company filed more than 5,000 income tax returns amounting to Tk6 crore. Of them about 3,500 are teachers of school, college and madrasas.
Some 80% of the income tax files came from the Chattogram division while the rest came from Dhaka and other parts of the country.
The company, which was registered in the Bangladesh Joint Stock, currently operates from three offices in Chattogram and Dhaka.
Apart from income tax, KPI provides various services including VAT consultancy, management audit, accounting services and corporate advisory.
“In FY 2018-19, KPI Service Ltd started with submitting income tax files of 13 teachers of Shekher Hat High School in Sitakunda Upazila,” Priyo Dey told The Business Standard.
Over the years, the activities of KPI have expanded in various areas including Mirsarai, Sitakunda, Sandwip, Hathajari, Raujan, Fatikchari, Rangunia, Chandanish, Patia, Boalkhali, Satkania and Matiranga and Khagrachari district’s Gunimara.
“KPI Service Limited is planning to expand its program to all upazilas of Chattogram division within the next 5 years,” said Priyo Dey.
The founder and CEO of KPI Service Limited added that the company provides its services on seven core values –corporate ethics, commitment, confidentiality, corporate behaviour, client satisfaction, competence and corporate social responsibility.
Income tax officials said the initiative to provide income tax services at marginal level is a commendable one.
They hoped that the activities of this institution would play an important role in increasing the revenue of the government.
Abu Bakar, headmaster of Shekher Hat High School in Sitakunda, said, “We did not submit income tax returns before 2018. After KPI came to our school and conducted workshops on income tax, we were encouraged to file income tax returns regularly.”
He added that they used to be reluctant in filing income taxes and thanks to the company’s initiative, they pay their income taxes regularly.
Mirsarai Upazila Education Officer Fazlul Haque said, KPI’s income tax services are one stop service.
“This initiative has brought income tax services to the doorsteps of taxpayers and is helping to boost government’s revenue,” he added.