The deadline for submitting income tax returns by individual tax payers expired yesterday with poor response from taxpayers, frustrating the NBR.
Officials estimated the number of returns submitted to be around 8.5 lakh.
They said political turmoil badly affected the business, making them unwilling to submit returns.
“The ongoing political turmoil resulted in lack of submission of returns. We have extended the deadline thrice, but many of them failed to submit returns due to the situation,” NBR member Aminul Karim told the Dhaka Tribune.
“Those who are due to submit the returns can submit yet through applying to the Deputy Commissioner of Taxes.”
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 for submission of the return subject to valid reason. The Deputy Commissioner of Taxes can allow maximum three months to the respective taxpayers.