No decision yet on extension of deadline

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FE Report
Further extension of individuals' tax return submission deadline is likely, in response to the requests that the National Board of Revenue (NBR) has earlier received from different quarters including individuals and trade bodies.
However, no decision has yet been taken by the NBR about the extension of the deadline for submission of individuals' tax returns that expires October 31.
The board is now unable to do this as the finance adviser is abroad to attend the meetings of the World Bank and the International Monetary Fund.
Until October 23, a total of 207,503 tax payers filed their return worth Tk 4.32 billion.
In the last fiscal, the NBR received tax worth Tk 2.52 billion from 525,994 TIN holders.
Although the number of tax returns submitted so far by the assesses during the current fiscal is significantly lower than that of the corresponding period last fiscal, but the board has already received a higher amount of income tax earnings until now during the current fiscal compared to that of the previous fiscal, the source said.
Earlier, the government extended the time up to October 31 from September 30 for filing income tax returns this year following the requests from different sections of people.
Sources said the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the Dhaka Chamber of Commerce and Industry (DCCI) and Dhaka Taxes Bar Association (DTBA), have, among some 100 chambers and trade associations, urged the NBR to extend the deadline for a further one-month period until November 30.
Sources said the number of TIN holders in the country is around 2.4 million and the board should have received tax returns, by now, from at least half of them.
In case of failure to file tax return in due time, the penalty rate from this year is Tk 1000 at a time and Tk 50 per day.