The taxpayers who have not yet submitted their income tax returns will get another two months as the National Board of Revenue has extended the deadline to November 30.
Due to the celebrations of Eid-ul-Azha and Durga Puja, and performing of hajj, the NBR decided to extend the September 30 deadline to help the taxpayers submit their returns, according to a statement issued yesterday.
The statement read that the decision was made after considering the situation and following requests from Bangladesh’s apex trade body FBCCI, other trade bodies, professional organisations and individuals.
The NBR said the response was “poor” before the deadline expired yesterday, which prompted the body to take the decision.
According to the income tax ordinance, the NBR can fine Tk1,000 at a time and Tk50 for each day if any TIN holder fails to submit the returns within the deadline.
However, the ordinance allows taxpayers to seek extension of deadline on valid grounds. The deputy commissioner of taxes can give maximum two months to respective taxpayers.
The new e-Tin holders will be penalised with the highest Tk5,000 if they fail to file their returns by the deadline, according to a new section incorporated in the Finance Bill 2015.
Usually, the NBR extends the deadline each year to entertain the requests made by taxpayers.