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Tax return submission deadline gets extension till 31 December

The National Board of Revenue is going to extend the deadline for income tax return submission for the fiscal year 2012-2013 for the third time till December 31.

The board has extended the timeline for income tax return submission as it saw a shortfall in return submission target by over 50 percent because the taxpayers failed to complete the procedure due to political turmoil.

NBR sources said that the board till November 21 last has received 6 lakhs income tax returns while the number was 11 lakh last year. Considering this, the board is going to extend the deadline to hit its target of receiving income tax return, sources informed.

The timeline for submitting the income tax return was first set on September 30 last but after its expiry the board gave one month extension till October 31 to pave the way of submitting income tax returns. Later, the board extended the timeline for another one month till December 1, considering the demand of the business section.

However, the board for the third time is going to extend the timeline of submission and it would be December 31 next as the board that considered the current political unrest as an obstacle for the taxpayers to submit the income tax returns.

Meanwhile, the extension of the timeline for completing registration for e-TIN, the newly-introduced system to pay income tax is also under consideration of the board, sources said. The deadline of e-registration is December 31.

Meanwhile, the leaders of the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) on Thursday called upon the government for extending the timeline for submitting income tax returns by another month.

FBCCI, the apex trade body of the country, in a press statement on Thursday requested the government to extend the timeline saying that the business community cannot operate business and submitted income tax returns due to the current political unrest.

As a result, the FBCCI for the 3rd time sought time extension as it earlier had requested the government for two times. The government responded positively to the chamber requests. The chamber in its statement said hartal like programmes and political violence hindered smooth operation of business. The deadline of re-registration for e-TIN is December 31.

Considering the situation, the chamber has called upon the government to extend the deadline for income tax return submission by one month.

http://www.daily-sun.com/details_Tax-return-submission-deadline-gets-extension_690_1_3_1_1.html

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