The National Board Revenue on Sunday said that the submission of income tax returns by individual taxpayers online could be made all year round.
However, those who will submit the tax returns after Income Tax Day is observed on November 30 every year in the country will not get rebate on investments.
Besides, the NBR may impose 2 per cent penalty for filing the tax returns after Income Tax Day for maximum 24 months, said a NBR release issued on the day.
The release said that the decision was made to encourage the taxpayers to file their returns online.
It also said that 14 lakh taxpayers鈥� identification number holders had already submitted tax returns online until Sunday that was also the deadline for the submission of the returns for the current financial year of 2024-25.
Some 18 lakh individual taxpayers are registered in the e-return platform introduced by the NBR in the current year.
Earlier in October 2024, the NBR made it mandatory for public officials and employees of the Dhaka South City Corporation, Dhaka North City Corporation, and metropolitan areas in Gazipur and Narayaganj to file tax returns online.
Besides, many private service holders, including bankers and officials of mobile phone operators and companies like Unilever Bangladesh Ltd, British American Tobacco Company Limited, Marico Bangladesh, Berger Paints Bangladesh Limited, Bata Shoe Company (Bangladesh) Ltd and Nestle Bangladesh Limited have been asked to follow the same directive.
The NBR has been struggling to augment its revenue collection because of its narrow income tax base.
Out of 1.04 crore TIN holders, only 43 lakh filed tax returns in FY 2023-24.
Bangladesh has one of the lowest tax-to-GDP ratios in the world despite making high economic growth over the past decade.
