Only 37pc taxpayers file returns
Only 37 per cent of 62.77 lakh registered taxpayers filed income tax returns until January 2, the last day for filing income and wealth statements by individuals, according to the National Board of Revenue (NBR).
In addition, 3.62 lakh taxpayers applied to the tax offices seeking more time to furnish their tax returns for the income year 2021-22, said a senior NBR official.
Officials said nearly 23 lakh taxpayers submitted returns since July 1.
This was 7 per cent higher than the 21.5 lakh who submitted returns until December 31, 2020, the previous year's last date for returns submission.
However, tax payments with returns declined 18 per cent year-on-year to Tk 3,290 crore as of the final day of submission of returns from Tk 4,010 crore a year ago, according to the NBR.
In the face of the low rate of submission of tax returns, the NBR extended the deadline for taxpayers to file annual income, expenditure and wealth statements without penalty from November 30 to December 31.
As December 31 was the weekly holiday of Friday, the NBR received returns until January 2 without penalty. Yet the ratio of return submission out of the total taxpayer identification number holders was lower this year than last year's 42 per cent.
The NBR rules stipulate that except for certain cases when TIN was availed just for a credit card or to sell land, TIN holders will have to file tax returns.
The tax authority has made the filing of tax returns mandatory for persons in 22 areas, including individuals, who have 12-digit TINs.
As the deadline has expired, taxpayers will now be required to pay a fine during filing returns for the income year 2021-22.
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