The New Nation - Internet Edition

Staff Reporter

In the wake of a poor and unsatisfactory response from the taxpayers, the Government yesterday extended the deadline for submitting income tax return by one month.

The National Board of Revenue (NBR) in a circular yesterday said the taxpayers could submit their income tax returns by November 30.

This is for the second time that the Government extended the time-limit for 30 days to submit income tax returns.

Talking to the reporters, NBR chairman Mohammad Abdul Majid said he was not satisfied with the number of income tax returns submitted so far. "But I'm hopeful about increase of number of returns."

The newly-appointed NBR chairman said the time-limit was extended as many taxpayers could not pay income tax due to the recent floods, and Eid-ul-Fitr and Durga Puja holidays.

"This is for the first time the NBR has introduced the universal self-assessment system to facilitate the income tax payment. We want to develop a client-oriented system so that the TIN holders can pay income tax without any hassles," he said.

"The deadline will not be extended further. If any taxpayer will fail to pay income tax within this extended time-limit, he or she will have to pay fines for everyday," he warned.

The government has fixed the target of Tk 10,838 crore during the current fiscal year from taxes on income and profit. But till October 25, NBR collected Tk 458.65 crore from 2,26,993 persons, which was less than 50 per cent compared to the previous fiscal year.

The number of persons submitted income tax returns last year was 5,35,994 with the government earning Tk 252.11 crore for the national exchequer.

NBR sources said there are around 20 lakh Tax Identification Number (TIN) holders in the country.