Taxpayers will not receive at least 48 government and non-government services, including connection of gas and power supply, if they fail to submit income tax returns for FY24, according to the tax return preparer guidelines issued by the National Board of Revenue on Tuesday.
Proof of submission of income tax returns has been made mandatory by the government for availing such services in FY24.
Deputy Commissioners of tax are empowered to impose fines and also set tax liability as per the income tax act.
Tax return submission by individual taxpayers in FY24 began on July 1 and will end on November 30.
However, taxpayers living outside the country for higher studies and employment can submit his or her return within 90 days of his or her arrival in Bangladesh.
According to the TRP rules, individual taxpayers can submit their income tax returns through self-assessment form, general return form and universal return form.
As per the Income Tax Act, 2023, taxpayers can appoint a certified tax return preparer for filing his or her income tax returns.
The NBR is the sole authority for issuing TRP agent licences.
Tax lawyers can get registered as TRP agents by submitting their certificates and documents in the NBR without facing any written test.
Other candidates must pass a written test on accounting to be registered as a TRP agent.
The registered TRPs will be assigned to collect revenue based on the target set by the NBR for a specific area.
A unique identification number will be allotted to the selected candidates as TRPs, which will link them as an enlisted organization of the NBR.
The agents, known as tax return preparers, would enjoy incentives at a rate of 10% to 0.5% based on tax collection performance for the first three tax years.
For the fourth and fifth tax years, incentives would be maximum 5% to minimum 0.25% based on their performances.
The NBR would pay the incentives based on the declared income of the taxpayers in their tax returns prepared by the TRPs.
The NBR would be able to cancel the licence and take legal actions, including filing criminal cases, if the TRPs fail to maintain privacy of the taxpayers and for any other specified reasons as per the TRP rules.