NBR extends tax return submission deadline Dec 31

Staff Reporter :
The National Board of Revenue (NBR) has extended the deadline for submission of the tax return to December 31 without imposing fines for delay.
The decision was taken for extension the tax return submission deadline by a month as responses from taxpayers were very low.
However, NBR Chairman Abu Hena Md Rahmatul Muneem made the announcement on Wednesday during a seminar in the city.
There are more than 80 lakh online Tax Identification Number (e-TIN) holders in the country and around 23 lakh of them filed their tax returns in the last tax year 2021-22.
According to NBR sources, just a day before the deadline about 22 lakh returns have been submitted their tax return till November 29.
Officials at the NBR’s tax department expect tax returns to cross 40 lakh this year due to a new provision in the relevant law that has made tax return submission proof mandatory for around 40 types of services.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the country’s apex trade body, on Tuesday requested the NBR to extend the deadline for filing tax returns by a month.
The Bangladesh Tax Lawyers Association has also made a similar request to the revenue authority.
Currently, annual income up to Tk 3 lakh is exempted from tax. An individual earning more than this is required to submit an income tax return every year.
In the latest budget, the NBR has taken a strict stance on tax return filing. In other words, service providers will face a fine of up to Tk10 lakh if they do not take proof of the tax return submission.
And a regulation has been made making it mandatory for businesses to hang the proof of tax return submission in their business establishments.
As per the existing income tax ordinance, a penalty of 10 per cent of the last tax payable or Tk 5,000 is levied if a person fails to file a tax return or seeks time from the deputy commissioner of taxes.
Besides, taxpayers will have to pay a fine of Tk50 per day for the delay.
And even if the time is extended by a deputy commissioner, interest at the rate of 2 per cent per month shall be payable on the applicable income tax.
However, an NBR official said that if the revenue board makes the tax day 31 December instead of 30 November, interest will not be applicable.