The National Board of Revenue has decided against extending the deadline for income tax return submission for those who are failing to file the papers within time amid a surge in coronavirus infections and deaths.
The last date for filing income tax returns is Nov 30, said NBR Chairman Abu Hena Md Rahmatul Muneem in a media briefing on Sunday.
“The deadline has been set for Nov 30. There is no opportunity to extend the time period.”
In other words, taxpayers who are yet to file their income tax returns must do so by Monday or risk facing a fine.
The announcement came after media reports leading up to the briefing indicated that the deadline for filing tax returns could be extended beyond Nov 30 amid a resurgence of COVID-19 cases and deaths in the country.
The Federation of Bangladesh Chambers of Commerce and Industry, tax lawyers and taxpayers of different professions have written to the NBR demanding an extension to the deadline for return submission due to the outbreak.
But the existing Income Tax Ordinance does not provide any direct opportunity to extend the time for filing returns. As a result, the NBR began to look for ways to give taxpayers some relief amid the pandemic.
Subsequently on Saturday, several officials said the NBR is likely to extend the deadline for a month or two and waive fines for late submission in this period. They also hinted at an official announcement on the extension at the NBR chairman’s media briefing on Sunday.
However, the fine for late submissions will be waived if the taxpayer can show a valid reason for the delay, according to Muneem.
“Those who are unable to file their income tax returns within the stipulated time can apply for an extension. If the reasons for failing to meet the deadline are reasonable, the fine will be waived. But if the reason does not seem reasonable to the commissioner, a fine will be imposed,” he said.
Source: bdnews24.com
