The number of returns from income taxpayers this fiscal year (FY) could be around 2.0 million, officials of the National Board of Revenue (NBR) said looking at the trend in submission of returns. The deadline for tax return submission ends tonight.
The timeline has been extended into the night, until 10pm.
Last year, the NBR had received 1.3 million tax returns by the deadline.
Until Tuesday, the number of tax returns filed by the individual taxpayers surpassed 1.1 million, up 760,000 from the corresponding period last year.
The revenue board also saw a hefty growth of 72.40 per cent in tax returns by marginal taxpayers in the week-long income-tax fairs across the country.
Talking to the FE Wednesday, NBR member (income tax administration and human resource management) Abdur Razzaque said the number of tax returns would come to around 2.0 million by this yearend.
"We have intensified efforts to expand the tax base. Also, legal reform would help in increasing the number of tax returns this year," he said.
However, the number of taxpayer-identification number (TIN)-holders also almost doubled.
Some 3.2 million taxpayers had obtained electronic TIN until Sunday, as a month-long tax-netting campaign climbs its climax.
Officials said the week-long tax fair on November 1-7 and a decentralized tax fair in all of the field-level tax zones thereafter encouraged the taxpayers to pay tax without hassles.
Another senior tax official in a field office said the government made tax-return submission mandatory for private-sector officials in executive or managerial positions.
The measure would help increase the payroll tax this year, he said.
"Employer companies will not be able to enjoy tax exemption on the salary payments to their employees unless the latter file tax returns," he added.
While visiting some tax offices Wednesday--at the fag-end of the campaign--this correspondent found a huge rush of taxpayers for filing tax returns and submission of time petitions.
Taxpayers have to pay 2.0 per cent monthly penalty if they missed the deadline.
In the budget for 2016-17, the NBR fixed a deadline dubbed 'tax day' in the timeline for submission of tax returns. Before that, the revenue board used to extend the cut-off time twice or thrice following request of cross-section of people including tax lawyers and business chambers.
The tax official said government officials having monthly salary above Tk 16,000 also have to submit tax returns on a mandatory basis.
"The recent tax measures during the last two financial years helped to ensure tax compliance by both private-and public-sector salaried persons," he added.
The number of young taxpayers with marginal incomes increased significantly this year, widening the tax base, he added.
Many of the taxpayers also submitted tax returns in the tax fairs to obtain tax-identification card that the NBR started providing from this year.
The trend in tax-return submission got geared-up in the last two years following amendments to the income-tax ordinance.
A number of provisions have been incorporated through the finance bill to make tax-return submission mandatory for the salaried persons.
The NBR, in a public notice, said all of the income-tax offices will remain open until 10.0pm Thursday for receiving tax returns from the taxpayers before the curtain drops on the month-long tax carnival. Banks will remain open till 8.00pm.
doulot_akter@yahoo.com
