Taxpayers\\\' response frustrates NBR

Doulot Akter Mala | Published: December 24, 2013 00:00:00 | Updated: November 30, 2024 06:01:00

The National Board of Revenue (NBR) is yet to get the desired response from the individual taxpayers though the expiry of the extended deadline for submission of income tax returns is only one week away.
Following the poor submission of tax return, the NBR extended the time for submission of income tax return thrice. The deadline for submitting tax return is scheduled to expire on December 31. Until December 15, the board received some 7,50,000 tax returns and 'time' petitions from the individual taxpayers.
The NBR received nearly Tk 12 billion in taxes against the returns submitted by the individual taxpayers.
The income tax wing of NBR extended the deadline from September 30 to October 31 in the first phase, then to December 1 in second and December 31 in the third phases.
A senior tax official said the ongoing political unrest was the major reason for the slow pace in the submission of income tax returns this year.
Last year, the NBR received some 9,00,000 tax returns from the individual taxpayers by the deadline.
"Taxpayers cannot process their tax returns by arranging necessary documents due to the continuous political blockades," the tax official said.
The NBR extended the time for submission of income tax returns thrice due to the taxpayers' difficulties, but the deadline is unlikely to be extended further, he added.
The apex trade body the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the Dhaka Chamber of Commerce and Industry (DCCI), other trade bodies and tax lawyers' associations have urged the government to extend the deadline afresh for submission of individual tax returns. Â
There is a provision for allowing taxpayers additional six months' time following submission of time petitions.
A Deputy Commissioner of Taxes (DCT) can allow three months' time to a taxpayer after expiry of the deadline.
The tax official said the NBR was unlikely to receive higher taxes from individual taxpayers this year as it had offered higher tax exemptions and rebates for the salaried persons in the budget for the current fiscal year (FY).
However, the tax officials expect at least 1.0 million tax returns by the end of FY 2013-14 out of 1.7 million taxpayers, who have valid Taxpayers Identification Numbers (TINs).
According to income tax law, taxmen can impose penalty for failure to submit income tax returns within the deadline.