DK Technology, a US-Bangladesh joint venture company, has developed a hassle-free software solution for the tax payers to file tax return forms online themselves without lawyer's help.
The software is called BDTax and is located online at www.BDtax.com.bd.
It has been developed in accordance with the National Board of Revenue (NBR) form and with the consultation of tax lawyers. So the filing will be accepted by the NBR, according to the developer of the software..
The software will make the tax return filing easier for the tax payers and largely help the government in its bid to digitise the return submission system, said a press release.
"Filing paper based documents is time consuming and there is high risk that sensitive client information can be lost, stolen, or damaged, said, said Zulfikar Ali, founder and CEO of Bdtax.com.
That is why the DK Technology team came up with software to protect sensitive tax data and expedite the tax payers filling without the help of accountants or lawyers, Zulfikar said.
E-filing makes the task easier as it can be filed round the clock from any place in the world. There is also an option to print the return in a PDF format. The system will be an incentive for the people who remain otherwise busy on different official, social or personal assignments. Zulfikar explained.
One advantage of the system is that clients will not have to amass all of their information for future tax filings once he or she is registered, said Eng. S.M Sazedul Haque.
The client will be able to get back all the previous data as it is stored in the cloud server. For previous history, the users easily can see his data about tax amount, or anything else, said Sazedul.
The Data recovery system is ensured and clients will be able to fill them out from anywhere anytime, making it much more efficient when compared to the current paper based system, he added.
Since the size of economy and number of tax payers are growing rapidly due to accelerated growth of the middle class, the government has to enhance tax collection capacity, said Zulfikar. The software will help to ease the process within a short period of time, he said.
In October 2015, the software went live and already 10 law farms and over 100 individuals are using it. They have also submitted tax returns using the software and the NBR has accepted them because they are the same as the official government form.
"We have used the software and it helped us a lot because it does need calculation and automatically place the amount of tax after filling the forms, said Syed Hasan Imam of Ain Angan, a Law farm. It saves time and the recovery system is the most useful part because we do not have to preserve stacks of paper based files," he said.