Tax return filing higher by 0.2 million

FE REPORT | Monday, 3 January 2022

The time for submitting income tax (IT) returns by individual assesses for the assessment year 2021-22 concluded on Sunday.

The National Board of Revenue (NBR) registered around 0.2 million higher returns until Saturday, the day before expiry of the extended deadline, officials said.

They said the final data of return submission to 31 tax zones across the country is yet to be compiled.

The NBR received nearly Tk 5.0 billion less from the individual taxpayers this year compared to that of the previous year.

Talking to the FE, a senior tax official said that a significant amount of tax came against the declaration of undisclosed money in 2020.

This facility also has been offered for the last year but with high penal tax. So, the taxpayers were less interested to avail the opportunity, he added.

Until Saturday, some 2,208,000 taxpayers submitted their returns with Tk 30.42 billion in income tax.

In the previous year, the NBR received 2,047,000 tax returns within the deadline of December 31, 2020 with Tk 35 billion in income tax.

The officials said that by June 30, 2022, the number of tax returns would be raised to 3.0 million through intensifying efforts to widen the tax net.

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