Tax return submission deadline extended
Published : Tuesday, 1 December, 2020 at 12:00 AM Count : 214
After receiving a very poor response from taxpayers and requests from stakeholders, including trade groups, in the face of the COVID-19 situation this year, the National Board of Revenue (NBR) extended the deadline for the filing of income tax returns until December 31.
NBR Chairman Abu Hena Md Rahmatul Muneem said it at an emergency press briefing on Monday afternoon.
During the extended period, no penalty and delay interest will be paid for filing tax returns. The NBR income tax wing released a notification in
The deadline was expected to expire on the 30th of November.
On Sunday, Muneem at a press briefing said no additional time would be given for return submission as taxpayers got enough time for the task.
Officials said NBR now had changed its decision after getting very poor response from taxpayers in filing tax returns as many of them could not complete their preparations, including collecting required documents.
Considering the COVID-19 situation, NBR decided to extend the time limit, NBR officials said.
As of June 30, 2020, the total electronic taxpayer identification number (TIN) holders in the country was 50, 72,567 and all TIN holders, with some exceptions, are supposed to file tax returns.
Previously, NBR Chairman said the return had increased by 63,199 till 26th November, this year as compared to November 26 last year. However, income tax has decreased by Tk 193 crore at the same time also just because of this global pandemic.
The number of returns filed till November 28 this year was 13 lakh 20 thousand 825. The income tax returns filed at the same time last year were 12 lakh 57 thousand 626. As a result, the return has increased by 63,199.
Tk 2,387 crore was paid with return till November 26 this year. At the same time last year, the tax was paid with the return of Tk 2,580 crore.
The NBR Chairman said work was underway on how to make income tax returns easier to all. One-page return has been made since this year, so that taxpayers can easily file returns.
Due to corona, the Income Tax Day rally is not being held this year. However, the discussion meeting will be held on Friday. The theme of this year's Income Tax Day is to ensure a taxpayer-friendly environment by providing transparent and modern tax services.
According to the ordinance, the NBR can waive any fines and interest of individual taxpayers if it wants. This power of the NBR has been added to the budget session as Section 184 G of the Income-tax Ordinance.
Around 15 lakh or 30 percent of the TIN holders filed their tax returns as of Thursday.