Tax return submission deadline extended by 2 months

The National Board of Revenue (NBR) has extended the deadline for submitting individual income tax returns by two months.

Now, individual taxpayers could submit their income tax returns till January 31 next year. The previous deadline for income tax return was November 30.

An order signed by Md Mohidul Islam Chowdhury, second secretary tax law at the NBR, informed that the tax day would be observed on January 31, 2024, for individual taxpayers instead of November 30, 2023.

The deadline for submitting tax for companies has also been extended till February 28 from January 15 next year.

Meanwhile, NBR considered the extension after trade bodies, including the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), demanded more time as many taxpayers could not take preparations to file tax returns due to the prevailing political situation and upcoming elections.

Bangladesh has 94 lakh registered taxpayers but nearly 36 lakh taxpayers filed their income and expenditure statement in the year 2022-23. Last year, NBR collected Tk 4,100 crore in income tax, NBR sources said.