New e-tax filing system likely in Sep
The National Board of Revenue (NBR) is likely to launch its new online tax return filing system in September this year, said officials yesterday.
The system will enable taxpayers to furnish their income, expenditure and wealth statements without going through the hassle of visiting tax offices.
Initially, individual taxpayers will get the scope to file returns electronically. From next year, companies may get the same opportunity.
"Once the system is lunched, taxpayers will be able to complete the formalities, including tax payment, electronically," said a senior NBR official seeking to remain unnamed.
"We are designing the system in a way that taxpayers get
acknowledgement receipt and tax certificate after submission of returns," said the official.
The development comes nearly a year past the NBR deciding to develop the system with its own resources placing its initial scheme, Bangladesh Integrated Tax Administration System (Bitax), on technical audit.
This was against the backdrop of allegations that the initial system was not user-friendly and had failed to attain the desired goals.
In October last year, the NBR formed a team to design the online return system, business process and applications as a part of its responsibility to develop the overall apparatus.
It also formed a steering committee, headed by its Chairman Abu Hena Md Rahmatul Muneem, to monitor the overall progress in designing and implementing the system so that it could be brought to use in the quickest possible time.
Officials said the NBR has developed a new artificial intelligence-based system.
The official said public sector employees would find the system convenient as it would collect information regarding salaries through the government's Integrated Budget and Accounting System (iBAS).
Besides, marginal taxpayers and taxpayers who have nothing to show in their returns will also find the system very helpful, the official said.
The NBR set rules last fiscal year stipulating that holders of taxpayer identification numbers (TINs) would have to file tax returns even if they do not have taxable income.
The exception will be two types of individuals: those who do not have any income but have to take TINs to get credit cards and those who have got TINs to sell land and do not have any income. They will not have to submit returns.
There are nearly 38 lakh TINs holders, who are either marginal taxpayers or have nothing to furnish in their returns, he said.
Currently, more than 62 lakh registered individuals, companies and firms have TINs.