Taxpayers likely to get another month to file returns

The NBR member also said that a taxpayer can easily gets three-month extension for filing returns only if he/she applies

  • A group of taxpayers are seen filing their returns at a tax fair held on the Dhaka Officers Club premises. The picture was taken yesterday

The National Board of Revenue (NBR) is likely to allow taxpayers one more month for submitting their income tax returns till October 31, following demands from various trade bodies and individuals.

The board is considering to extend the deadline as there will be public holidays for the Eid-ul-Azha and the Durga Puja festivals during the existing period of tax return, NBR member Bashir Uddin Ahmed yesterday told the reporters at the National Income Tax Fair 2014 held at the Officers Club premises in the city.

“As there will be holidays for some days over the Eid and Puja festivals, the general tax payers and the business chambers have requested us to extend the deadline. Thats why, we are considering to extend the deadline till October 31,” he added.

The NBR member also said that a taxpayer can easily gets three-month extension for filing returns only if he/she applies.

According to the income tax ordinance, the NBR can fine Tk1,000 at a time and Tk50 for each day if any TIN holder failed to submit the returns within the deadline.

However, the ordinance allows taxpayers to seek extension for submission of the return subject to valid reasons. The Deputy Commissioner of Taxes can allow maximum three months to the respective taxpayers.

Usually the revenue watchdog extends the deadline each year to entertain the requests made by taxpayers, especially trade bodies, and the tax lawyers’ association.

About 17 lakh people now holds TIN across the country although less than 10 lakh people usually file their returns to NBR every year.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday sent a letter to the NBR and the finance ministry with a request to extend the deadline till October 31 for filing up the income tax returns.

The apex chamber pointed out that the businesses and the individuals will not be able to file their income tax returns and pay the tax by the existing deadline due to the upcoming public holidays centering Durga Puja and Eid-ul-Azha.

As the current deadline will expire on September 30, the FBCCI has requested the authorities concerned to extend the deadline by another month.

Although the original deadline for submitting income tax return is September 30, the NBR had extended the deadlines for thrice till December 31, last year.  Apart from that, the deadlines for submitting tax returns were extended by 45 days in 2012, 30 days in 2011 and seven days in 2010.

Source: Dhaka Tribune

LEAVE A REPLY

Please enter your comment!
Please enter your name here