12:00 AM, November 16, 2012 / LAST MODIFIED: 12:00 AM, November 16, 2012

Tax returns submission beats last year's figure

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Sohel Parvez

The deadline for the submission of income tax returns ended yesterday with the National Board of Revenue (NBR) receiving 36 percent higher returns this year from a year ago, a senior official said.
Some 11.42 lakh individual taxpayers have submitted their income and expenditure statements, said MA Quader Sarker, member-in-charge of tax administration and monitoring of NBR.
Taxpayers submitted 8.41 lakh returns last year by the deadline.
The NBR received Tk 1,748 crore in taxes through the submission of these returns this year, up nearly Tk 700 crore from the previous year, Sarker said.
"The results are a happy jolt. Submission of tax returns in Khulna and Rajshahi has shot up this year compared with the last year," he said.
The NBR extended the deadline twice for returns submission, due to demands from different quarters on grounds that they faced difficulties locating their tax offices following NBR's increase of tax offices this year.
Only a third of the 35 lakh taxpayer identification number holders submit returns every year.
Over the past several years, income tax receipts grew by more than 20 percent annually, thanks to NBR's motivational campaigns such as the tax fairs held annually in large cities.

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