Tax Return Submission Ends Nov 30

Half of TIN holders yet to submit tax returns

Staff Correspondent

24 November, 2020 12:00 AM printer

With only a week left for tax return submission, nearly half of the Tax Identification Number (TIN) holders did not submit their returns yet.

The deadline for this year’s tax return submission is November 30.

The National Board of Revenue (NBR) is witnessing a poor response in tax returns submission and the number of return submissions may decrease this year due to lack online tax payment facilities, officials said.

This year, only Tax Zone-6 has commissioned the piloting of online tax returns filing after NBR suspended the central online return submission systems due to technical glitches and procedural complexities.

The NBR sources said only one per cent of the total population pays income tax though the number of people with TINs in the country is more than 4 million and the number is increasing day by day.

But income tax deposits are not growing in comparison to the number of TINs.

According to NBR, around 2-2.2 million TIN holders have been paying taxes by submitting their tax returns. It means half of the country's TIN holders do not submit income tax returns to the government at the end of the year.

Besides, the income tax fair is not being held this year due to Covid-19 pandemic. For several years now, many have been waiting for the income tax fair to file their income tax returns.

Many do not file income tax returns despite having TIN numbers, many have not paid for several years or have not been able to pay for various reasons.

NBR chairman Abu Hena Md Rahmatul Muneem told the media that difficulties in the tax payment system made people reluctant to pay income tax.

‘Paying taxes is not difficult for people having taxable income but they do not want to pay the income tax due to problems in the tax payment process,’ he said.

“People consider the tax payment process as a matter of hassle,” the NBR chairman said, adding that automation in the tax administration would remove the fear and hassle.

“It will also boost revenue collection.”

He said online income tax returns submission system will be extended across the country next year. Individual taxpayers under the zone-6 in Dhaka will be able to file their tax returns online using the web-based software of the zone having 1.35 lakh taxpayers and the taxpayers will instantly get tax payment receipts.

The automation process is delayed due to the coronavirus outbreak and hopefully, taxpayers across the country would be able to file their tax returns online from next year, NBR officials said.

 


Top