Revenue likely to go up 3-fold but not number of tax returns
Monday, 3 December 2007
FE Report
Different tax zones under the National Board of Revenue (NBR) Sunday witnessed a huge rush of taxpayers on the last day of individual tax return submission.
The deadline for submission of individual tax returns expired Sunday. The NBR earlier extended return submission deadline twice.
According to unofficial sources, the board received nearly 4,50,000 tax returns from individual taxpayers until 5.00 pm Sunday, but the number would go up further as tax offices were to receive returns up to 8. 00 pm on the day.
The NBR chairman Muhammad Abdul Mazid and tax policy member Ali Ahmed visited different tax zones on the last day.
Talking to the newsmen, the NBR chairman said: "We expect that the number of tax returns submitted this year would surpass that of the previous year as I have found a huge rush of tax payers at the last moment."
The NBR will carry on with its ongoing drive against tax evaders as per existing rules, he said.
Individual taxpayers' response was slow in the first half of last month, but it gradually increased from November 15 last, he said.
Those who have received tax identification numbers (TINs) recently will need more time to file tax returns, he said.
The NBR will officially compile the final data on tax returns Monday, said NBR member (tax policy) Ali Ahmed.
The NBR will find out the tax dodgers on the basis of their individual TINs, he said.
Until November 22, a total of 3,89,335 individual taxpayers submitted returns and the NBR received tax worth Tk 5.58 billion from them.
In the last fiscal, the NBR received tax worth Tk 2.52 billion from 535,994 TIN holders.
The first deadline for individual tax return submission was September 30, which was extended up to October 31 and then again to November 30 for the second time. However, since November 30 was Friday, the last date was extended again to December 02.
Although the board has received higher tax revenue this year, the number of taxpayers submitting returns was lower compared to that of the last fiscal.
Different tax zones under the National Board of Revenue (NBR) Sunday witnessed a huge rush of taxpayers on the last day of individual tax return submission.
The deadline for submission of individual tax returns expired Sunday. The NBR earlier extended return submission deadline twice.
According to unofficial sources, the board received nearly 4,50,000 tax returns from individual taxpayers until 5.00 pm Sunday, but the number would go up further as tax offices were to receive returns up to 8. 00 pm on the day.
The NBR chairman Muhammad Abdul Mazid and tax policy member Ali Ahmed visited different tax zones on the last day.
Talking to the newsmen, the NBR chairman said: "We expect that the number of tax returns submitted this year would surpass that of the previous year as I have found a huge rush of tax payers at the last moment."
The NBR will carry on with its ongoing drive against tax evaders as per existing rules, he said.
Individual taxpayers' response was slow in the first half of last month, but it gradually increased from November 15 last, he said.
Those who have received tax identification numbers (TINs) recently will need more time to file tax returns, he said.
The NBR will officially compile the final data on tax returns Monday, said NBR member (tax policy) Ali Ahmed.
The NBR will find out the tax dodgers on the basis of their individual TINs, he said.
Until November 22, a total of 3,89,335 individual taxpayers submitted returns and the NBR received tax worth Tk 5.58 billion from them.
In the last fiscal, the NBR received tax worth Tk 2.52 billion from 535,994 TIN holders.
The first deadline for individual tax return submission was September 30, which was extended up to October 31 and then again to November 30 for the second time. However, since November 30 was Friday, the last date was extended again to December 02.
Although the board has received higher tax revenue this year, the number of taxpayers submitting returns was lower compared to that of the last fiscal.