Tax return deadline extended to October 31

September 30, 2009

The national board of revenue on Tuesday extended the deadline for submission of tax returns by one month.
The previous deadline for submitting tax returns for the current fiscal year was scheduled to expire on September 30. Now, the new deadline has been fixed on October 31.
The extension of deadline came against the demands by different quarters who pointed out that long holidays for Eid and Puja festivals made it difficult for taxpayers to comply with the September 30 deadline.
NBR chairman Nasir Uddin Ahmed told an online news service that they had to consider the long holidays of Eid-ul-Fitr and the Durga Puja to set the new deadline.
It became a usual practice for the NBR to extend the deadline every year. Last fiscal year, the deadline was extended twice.
NBR officials are hopeful of receiving record tax returns in the current fiscal after it has identified more than 65,000 new tax payers in the metropolitan areas in the latest survey.
Some 0.75 million taxpayers submitted tax returns in last fiscal year.
The government has set a target to collect Tk 16,560 billion from income tax, which is 27 per cent of total revenue target in the current fiscal year.
Experts said NBR has to widen the tax base to reduce dependence on indirect tax such as import duty and valued added tax. The indirect tax is a burden for people. NBR is still collecting more than 70 per cent of

Courtesy of NewAgebd

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