Staff Reporter :
Over 75 per cent individual taxpayers have yet to be filed their returns, although the extended deadline is going to end on next Sunday.
Only 21,26,698 taxpayers out of around 70 lakh electronic Tax Identification Number (e-TIN) holders have submitted their returns till December 23, according to sources of the National Board of Revenue (NBR).
From the return submission, the revenue board earned Tk 2874 crore from the taxpayers during the aforesaid time, they said.
Under this circumstance, the NBR has extended the deadline for the income tax return submission for the second time.
In a notification on Thursday, the NBR said as December 31 is a weekly holiday, the last date of return submission without penalty, has been extended to January 2, 2022.
The official deadline for filing income tax returns was November 30. But the tax authorities extended the time by one month until December 31 as the number of return submissions was low.
The tax offices will remain closed on Friday and Saturday. The NBR will receive the individual income tax returns on Sunday for the income year 2021-22.
As per the NBR data, some 21,26,698 taxpayers have filed their returns till December 23 and the return submission number was 19,67,049 till November 30.
Some 24,30, 845 taxpayers submitted their returns in the last 2020-21 fiscal year.
The rate of income tax returns has gradually been falling over the years proportionately with the amount of the e-TINs although the absolute number of returns filed is increasing.
NBR officials said the number of e-TIN is rising significantly for procedural requirements by various agencies.
Although the NBR had made tax returns submission mandatory for all TIN holders, with a few exceptions, from the current fiscal year to improve the situation, most of the TIN holders evaded filing returns, they said.
Analysts said the taxpayers are reluctant due to the complexity in filing income tax returns and the revenue is not increasing compared to our economy.
Many are just opening TINs for their necessity, but not filing returns. On the other hand, the NBR can’t take action against them due to the legal constraint.
Dr Abdul Mazid, former NBR chairman, said, “Raising TIN holder is not just the job of the revenue board. The job of the NBR is to oversee the collection of revenue.”
“In some cases, NBR can enforce the taxpayers and the TIN holders have to be brought under legal obligation. The tax payment process also needs to be made easier,” he said.
