Doulot Akter Mala The number of tax return submitted by individuals until the first deadline of September 30 last, fell by nearly 29 per cent compared to that of the last year as many taxpayers have become used to the return's time-extension. Some 2,51,958 individual taxpayers submitted their tax return paying Tk 7.71 billion in income taxes across the country within the time-frame against 3,53,000 paying Tk 9.70 billion last year. The National Board of Revenue (NBR) extended the time for individuals' tax return submission by a month until October 31, like in the previous years. The trend of the revenue board shows that it has been extending time for income tax return at least by a month every year upon requests from the cross section of people. The board extended the time for tax return by 45 days in 2012. Earlier, the deadline was extended by one month in 2011, by 7 days in 2010, by 42 days in 2009 and 2008. According to Income Tax Ordinance 1984, Section 163, the NBR doesn't have any power to extend the time. Many of the former tax officials, preferring anonymity, suggested the NBR to change the law so that the board does not have to bear the brunt of law violation following requests from the taxpayers. Former first secretary of NBR Abdul Latif said the board could change the tax law thus putting a bar on time-extension for individuals' tax return. Mr Latif, who is now in Australia, said taxmen could either permanently prolong the deadline from September 30 to October 31, or amend the existing law to keep a provision of time-extension. "Nowadays, everybody submits return under the provision of self-assessment, and it takes time to collect all the relevant documents. Extending time permanently up to 31st October may help the taxpayers submit return smoothly," he told the FE over phone. He added taxpayers can also get six months' time-extension upon submission of time petition to the Deputy Commissioner of Taxes (DCT), the Joint Commissioner or the Additional Commissioner. Tax officials have said the NBR expects the number of individual tax return to reach 1.0 million, but the collection of taxes will decline. The NBR offered higher tax rebate for salaried taxpayers in the budget for the fiscal year 2013-14 to encourage investment.
Time extension for tax return submission becomes a norm
FE Team | Published: October 05, 2013 00:00:00 | Updated: February 01, 2018 00:00:00
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