Bangladesh’s National Board of Revenue has extended the deadline for individual income tax return submissions to December 31, 2023, due to challenges such as documentation delays and procedural issues.
As of late November, the NBR had received approximately 2.2 million returns, which is below expectations given the target for broader tax compliance. The extension aims to provide additional time for taxpayers to file their returns, thereby reducing the risk of penalties and encouraging greater participation in the tax system. This move aligns with the NBR’s broader strategy to enhance voluntary compliance and expand the tax net, contributing to the government’s revenue goals. By addressing concerns and facilitating taxpayers, the NBR expects to see a significant increase in submissions during the extended period.
Source: Business Inspection BD
