Deadline for tax return submission may be extended
Thursday, 24 September 2009
FE Report
The government is actively considering extending the deadline for submission of individual tax returns that is scheduled to expire next week (September 30).
The National Board of Revenue (NBR) might extend the time considering poor response from the income taxpayers due to pro-longed holidays on account of Eid-ul Fitr and Durga Puja festivals.
Only 10 per cent of the regular taxpayers have so far submitted tax returns in their respective zones as majority of tax payers are expecting extension of time like previous years.
The deadline is likely to extended by one or two months.
"Time for individual tax return will be extended once. There will be no further extension after expiry of the extended period for tax return," said a senior revenue board official.
Last year, the board has extended time for individuals' tax return twice that confused a lot of people, he said.
The NBR will declare the time extension at the end of this month as usual, he said.
A large number of businessmen, professionals and top individual taxpayers are yet to submit tax returns and they have been requesting the revenue board to extend the time, he added.
Last year, the revenue board has received a total of 0.67 million tax returns worth Tk 7.92 billion within deadline November 12.
The government is actively considering extending the deadline for submission of individual tax returns that is scheduled to expire next week (September 30).
The National Board of Revenue (NBR) might extend the time considering poor response from the income taxpayers due to pro-longed holidays on account of Eid-ul Fitr and Durga Puja festivals.
Only 10 per cent of the regular taxpayers have so far submitted tax returns in their respective zones as majority of tax payers are expecting extension of time like previous years.
The deadline is likely to extended by one or two months.
"Time for individual tax return will be extended once. There will be no further extension after expiry of the extended period for tax return," said a senior revenue board official.
Last year, the board has extended time for individuals' tax return twice that confused a lot of people, he said.
The NBR will declare the time extension at the end of this month as usual, he said.
A large number of businessmen, professionals and top individual taxpayers are yet to submit tax returns and they have been requesting the revenue board to extend the time, he added.
Last year, the revenue board has received a total of 0.67 million tax returns worth Tk 7.92 billion within deadline November 12.