Tax return submission deadline extended by two months

Individual taxpayers now have until the end of January of the following year to file their income tax returns, an extension of two months granted by the National Board of Revenue (NBR).

The NBR's second secretary of tax law, Md. Mohidul Islam Chowdhury, signed an order stating that the Tax Day for individual taxpayers will henceforth take place on January 31, 2024 instead of November 30, 2023.

In line with the Income Tax Act-2023, trade bodies, including the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), asked for an extension of time to file tax returns because many taxpayers were unable to make the required arrangements. 

The tax administration consequently gave this proposal some thought.

In Bangladesh, there are 94 lakh taxpayers on file. Even still, not many people are submitting their returns.

NBR data indicates that in 2022–2023 over 36 lakh taxpayers filed their income and expenditure statements, a 38 percent increase from 25.9 lakh taxpayers in the year prior.

/MHK/