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NBR extends corporate tax return filing deadline by two months
The government extends the deadline by two months considering the benefits to businessmen and business organisations
Published : 27 Feb 2024, 01:05 PM
Updated : 27 Feb 2024, 01:05 PM
The government has extended the deadline for businesses and companies to pay income tax for the current tax year 2023-24, pushing it back by two months to Apr 30 to facilitate the payment process.
Usually, companies must pay their income tax by Feb 28 without penalty.
The National Board of Revenue, or NBR, announced the extension on Tuesday.
When asked about the extension, NBR Director (Public Relations) Syed A Momen explained that they stretched the deadline in the interest of businesses.
The decision followed a request from the Federation of Bangladesh Chambers of Commerce and Industry, or FBCCI, according to an NBR official.
Earlier, the revenue board extended the deadline for personal income tax payments by two months, from Nov 30 to Jan 31, to help individual taxpayers.
This extension had positive results. In the current fiscal year, the number of individual taxpayers increased by about 700,000 to reach 3.7 million, and the number of income tax return filers increased by 21 percent.
NBR officials are hopeful that there will be a significant increase in company income tax collection in the current fiscal year.
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