People queue up to file income tax returns before deadline ends at midnight
Chief Economic Correspondent bdnews24.com
Published: 2016-11-30 12:10:22.0 BdST Updated: 2016-11-30 12:29:30.0 BdST
Taxpayers have crowded tax offices around Dhaka on the last day set for submission of income tax returns.
Bangladesh is holding ‘Income Tax Day’ to celebrate the occasion.
The National Board of Revenue (NBR) has announced that all tax offices will accept submissions until midnight on Wednesday.
In the morning, tax offices around the capital were heavily crowded.
Long queues were also seen the day before. Some taxpayers were seen filling out their forms on the stairs in a last-minute rush to meet the deadline.
Bangladesh Bank has ordered all bank branches to remain open until 8pm to help taxpayers.
NBR Chairman Najibur Rahman requested all taxpayers who had not yet submitted their forms to do so on Wednesday. The deadline would not be extended further, he said.
A procession set out from Segunbagicha’s Rajasya Bhaban in the morning to celebrate Income Tax Day.
A discussion will be held at the Sonargaon hotel on the tax situation and awards will be given to the highest taxpayers. The finance minister is scheduled to attend the event.
Since Nov 24 every tax office has been holding tax fairs, where taxpayers can pick up and submit their tax forms.
Each office has several booths where taxpayers can pick up forms, submit them and receive a receipt acknowledging the submission. Help desks have also been set up for those having difficulty filling out the forms.
The offices have been decorated to lend a festive mood to the occasion.
This year government workers earning a salary over Tk 16,000 are required to submit a tax return, which has added to the last-minute rush.
NBR officials say Wednesday is the last day for individuals to submit their income tax returns for the 2016-2017 tax year. Taxpayers may receive an extension on the deadline if they are able to show reasonable cause, but will still have to incur two percent interest on top of their regular income tax.
On Nov 23 the NBR announced that tax offices would be open every day from 9am to 8pm until Nov 30 to facilitate the submission of returns.
Around 1.8 million Bangladeshis have Tax Identification Number (TIN). Approximately 1.3 million of these taxpayers submitted their income tax returns last year.
The government has set a tax revenue goal of Tk 2.43 trillion for the current 2016-2017 tax year. The NBR is expected to bring in Tk 2.03 trillion of this revenue. Income tax is expected to cover approximately Tk 0.72 trillion.
NBR officials say the week-long Income Tax Fair from Nov 1 to Nov 7 brought in Tk 21.3 billion.
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