Dhaka, Bangladesh (BBN)– The government on Sunday extended the time for submitting income-tax return further aiming to collect more direct tax from individual taxpayers from across the country.
Under the new deadline, taxpayers will be able to submit their tax returns till November 12 this year. The old deadline was November 1, 2009.
The National Board of Revenue (NBR), the country’s central authority for tax administration, said in an announcement that the time for submitting return has been extended till November 12 in line with the stakeholders demand.
On 29 September, the NBR extended the deadline by one month. As the October 31 deadline was a weekend, Saturday, returns were to be received on Sunday.
Earlier, the Dhaka Chamber of Commerce and Industry (DCCI) had requested the government to extend the time for submitting income-tax return, as many taxpayers could miss the set deadline.
A large number of taxpayers are yet to prepare and submit their tax returns and they would a face problem if the time is not extended, the DCCI has said.
There are more than 2.2 million tax identification number (TIN) holders across the country. Of them, only 0.67 million pay taxes, according to the NBR statistics.
The NBR believes they would get more tax returns as the submission date has been extended.
The income-tax-collection target has been fixed at BDT 165.60 billion for the current fiscal year, 27 percent higher than last year’s target.
In fiscal 2008-09, around 0.67 million taxpayers’ submitted tax returns involving BDT 7.92 billion out of 2.2 million TIN holders.
BBN/SS/SI/AD-01November09-7:36 pm (BST)