The National Board of Revenue is likely to impose penalty on taxpayers for non-compliance with its directive to re-register online to get electronically generated Taxpayers' Identification Numbers (e-TINs) within June 30.
Taxpayers, who still hold manually issued 10-digit TINs, should get 12-digit ones by re-registering within the deadline. The 10-digit TINs will not be valid from July 1, an NBR official said yesterday.
"We have proposed rigorous penalties on the taxpayers who will fail to re-register in time. The amount of fine is likely to be high and may be imposed from the next fiscal year," he said, asking not to be named.
The revenue authority launched an e-TIN portal on July 1 last year to clean up its TIN database in a bid to establish an electronic tax payment platform.
Initially, the NBR gave a six-month time for existing taxpayers or TIN holders to re-register online to get electronically generated TIN certificates by matching their details with their national identity cards.
Later, it extended the deadline twice to get an increased number of taxpayers on board. The new deadline expires on June 30.
So far, more than nine lakh taxpayers who got manually issued TINs have re-registered for e-TINs. The number is 51 percent of the 17.5 lakh valid TIN holders, meaning almost half of the TIN holders are yet to join the e-TIN database.
The official said the NBR may propose inserting a provision in the income tax law to impose penalty for re-registration in the next fiscal year. The amount of penalty for delayed re-registration may be more than Tk 5,000, he said.