• Tuesday, Oct 04, 2022
  • Last Update : 10:24 am

Individual tax return submission increases by 14%

  • Published at 04:49 pm December 3rd, 2018
Web-tax
Representational photo Photo: BIGSTOCK

Last year, the number of tax returns submitted was 1,835,000

The number of individual taxpayers submitting tax returns has seen a growth of 14% over the last year, with 2,006,714 returns submitted across the country’s tax offices as of Sunday.

Last year, the number of tax returns submitted was 1,835,000, sources at the National Board of Revenue (NBR) said.

The NBR’s extended deadline for submitting income tax returns for FY18 fiscal ended on Sunday, amid positive response from taxpayers.

Ziauddin Mahmud, member (income tax admin) of NBR, said 1,691,610 tax returns were submitted on time, while 315,105 individuals sought extensions.

NBR officials concerned said those who applied for time extensions are also considered to have submitted returns for the sake of calculation.

Previously, the revenue board extended the deadline for filing tax returns by two days from Friday to Sunday.

Taxpayers were allowed the opportunity for extension as per the Income Tax Ordinance, but the fines and interest on taxes they have to pay will also be counted.

Tax officials said the amount of tax to be collected from taxpayers will be finalized soon, with delays only because it is difficult to collect tax information from outside Dhaka.

Earlier, the NBR had arranged an income tax fair across the country, to provide various services to taxpayers.

According to NBR, Tk2,468.94 crore was collected at the fair from across the country, which is 11.35% higher than last  year. Last year, Tk2,217.33 crore was collected during the seven day-long fair.

This year, 1,636,266 people availed various tax-related services at the nationwide fair, as compared to 1,169,569 last year.

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