• Tuesday, December 31, 2013

Taxpayers may get more time to sign up for e-TINs

Star Business Report

The tax authority is likely to extend the deadline for online registration of taxpayer identification number (TIN) from December 31 to March 31 next year to bring more people under the tax net.
"There are some taxpayers who are yet to get registered," an official of the National Board of Revenue said, seeking anonymity.
The plan to extend the deadline comes, as fewer people than expected signed up by the specific time, partly because of the political turmoil since October 26.
Since the introduction of e-registration in July, 9.5 lakh persons and businesses got TIN's online.  
Of them, 7.73 lakh taxpayers re-registered to get TINs online. The number is far below than NBR's estimate of 17.5 lakh valid TINs.
The official said Finance Minister AMA Muhith approved the proposal to extend deadline.
The official said a 12-digit TIN would replace the manually issued 10-digit TINs from April 1.

Earlier, NBR said the 10-digit TINs would become invalid from January 1, 2014.
Meanwhile, the deadline to submit income tax returns for the current fiscal year ends today.
"We are not going to extend the deadline for submission of returns," said a senior official of the NBR.
Earlier, the revenue authority extended time for submission of tax returns by individual taxpayers since the end of official deadline on September 30 in response to demands from business bodies and less than expected submission, mainly due to political unrest.

Published: 12:00 am Tuesday, December 31, 2013

Last modified: 8:03 pm Tuesday, December 31, 2013

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