Finance Minister AHM Mustafa Kamal today proposed formulating rules for authorising tax return preparers (TRPs) in Bangladesh with a view to expanding the tax net by adding more individual taxpayers.
As per the plan, a person will have to deposit Tk 2,000 as tax to the state exchequer even if he or she claims an income that is below the threshold, which charges zero tax rate, said officials of the finance ministry.
Because of the rule of compulsory tax return, a taxpayer identification number (TIN) holder has to prepare returns, which involves cost, even though he or she does not have taxable income
If you miss your tax filing by December 31 this year, you will lose a significant amount of tax credit due to strict deadline of tax submission. So, if you have not yet been able to lodge your tax return then decide to submit within the stipulated time.
The National Board of Revenue today extended the deadline for income tax return submission till December 31.
Abdul Karim is not worried about the tax liability of Tk 51,500 because he has invested enough money in the specified areas and he knows that an investment allowance is the legal way to get a tax rebate. And this tax credit will help him reduce the tax significantly.
Are you going to submit your tax return by November 30 this year? Then it is better to know what important things you need to check before filing the tax return.
The government declared October 30 as Tax Day, setting a fixed deadline for individual taxpayers to submit their income tax returns for the year. Individuals will have to file returns on or before that date.