NBR getting poor response from taxpayers in filing tax returns
Wednesday, 24 October 2007
Doulot Akter Mala
The National Board of Revenue (NBR) has been getting poor response from the taxpayers in filing their individual tax returns ahead of seven days of expiry of the deadline.
The deadline for filing individuals' tax return -- both universal and self-assessment -- will expire on October 31.
The government had earlier extended the time up to October 31 from September 30 following the requests from different sections of people.
Sources said the board, again, is getting requests from a cross section of people including businesses, lawyers and civil society for extension of time up to November 30.
They have requested for extending time frame considering the sluggish trend of post-flood economic activities and holidays for Eid and Puja.
Sources said reshuffle in the top position of the board might also be a factor to extend further the deadline.
But the board is yet to decide on further extension of the deadline for filing tax returns, sources added.
Although the revenue officials are expecting a higher tax return in the current fiscal, the zonal tax offices are yet to get satisfactory response from the tax payers.
While visiting a tax zone office, it was found that they have received tax returns from nearly 200 taxpayers, out of 4000 individuals, under its jurisdiction.
The revenue officials said they are expecting last-minute rush of the taxpayers, as it has become a culture in the country.
"This year, we will get much higher tax revenues compared to those of the previous year as some bigwigs who failed to avail themselves of the opportunity to declare their undisclosed income within government's offered timeframe, are expected to file their tax returns," a top NBR official said.
Until September 30, the board received tax worth Tk 2.74 billion from 159333 individual taxpayers which was Tk 1.80 billion from 223229 individuals during the same period in the previous fiscal.
The number of taxpayers declined by 28 per cent in the current fiscal although the board witnessed 52 per cent growth in tax collection so far during the current fiscal, sources said.
Up to September this year, 52,000 taxpayers filed tax returns under the self-assessment scheme compared to that of the 62,000 in the same period of previous fiscal.
The National Board of Revenue (NBR) has been getting poor response from the taxpayers in filing their individual tax returns ahead of seven days of expiry of the deadline.
The deadline for filing individuals' tax return -- both universal and self-assessment -- will expire on October 31.
The government had earlier extended the time up to October 31 from September 30 following the requests from different sections of people.
Sources said the board, again, is getting requests from a cross section of people including businesses, lawyers and civil society for extension of time up to November 30.
They have requested for extending time frame considering the sluggish trend of post-flood economic activities and holidays for Eid and Puja.
Sources said reshuffle in the top position of the board might also be a factor to extend further the deadline.
But the board is yet to decide on further extension of the deadline for filing tax returns, sources added.
Although the revenue officials are expecting a higher tax return in the current fiscal, the zonal tax offices are yet to get satisfactory response from the tax payers.
While visiting a tax zone office, it was found that they have received tax returns from nearly 200 taxpayers, out of 4000 individuals, under its jurisdiction.
The revenue officials said they are expecting last-minute rush of the taxpayers, as it has become a culture in the country.
"This year, we will get much higher tax revenues compared to those of the previous year as some bigwigs who failed to avail themselves of the opportunity to declare their undisclosed income within government's offered timeframe, are expected to file their tax returns," a top NBR official said.
Until September 30, the board received tax worth Tk 2.74 billion from 159333 individual taxpayers which was Tk 1.80 billion from 223229 individuals during the same period in the previous fiscal.
The number of taxpayers declined by 28 per cent in the current fiscal although the board witnessed 52 per cent growth in tax collection so far during the current fiscal, sources said.
Up to September this year, 52,000 taxpayers filed tax returns under the self-assessment scheme compared to that of the 62,000 in the same period of previous fiscal.