Non-tax return filers to face bank account attachments, warns NBR

National Board of Revenue (NBR) Chairman Abdur Rahman Khan said 65% of the taxpayer identification number (TIN) holders failed to file their tax returns on time, warning of strict measures, including attaching bank accounts, to ensure compliance.  

"We have already instructed our tax offices to serve notices to non-filers, collect bank and other relevant information, and search bank accounts," he said during a pre-budget discussion at the NBR headquarters in the capital today (11 March). "Officials will assess the tax liabilities and, if necessary, attach bank accounts to recover the due taxes."  

He said the tax officials are now becoming more proactive.  

Despite three deadline extensions, only one-third of TIN holders have submitted their tax returns. Currently, there are about 1.1 crore TIN holders, but fewer than 40 lakh – both individuals and corporations – have filed their returns.  

The NBR chairman also hinted at a possible reduction in tax rates for land and apartment transfers.  

"Other agencies are involved in the overall tax rate reduction. But regardless of their stance, we will proceed with it," he said.  

He emphasised the need to increase mouza (land area) values in line with transaction prices, which could help offset revenue losses caused by tax rate reductions.  

Additionally, he suggested maintaining stable tax rates for an extended period, such as four to five years, as part of a consistent tax policy – something that investors have long been advocating.  

During the meeting, Snehasish Barua, a representative of the Institute of Chartered Accountants of Bangladesh (ICAB), pointed out a significant gap between transaction values and mouza values, which results in large sums of money remaining undisclosed.  

"People hesitate to declare the actual transaction value due to high tax rates. As a result, a substantial amount of money remains unaccounted for, depriving the government of its rightful revenue," he said.  

Mahtab Uddin Ahmed, president of the Institute of Cost and Management Accountants of Bangladesh, stressed the need for a comprehensive review of tax policies to attract foreign direct investment.  

"There is a perception among foreign investors that once they invest in Bangladesh, retrieving their money is nearly impossible due to the country's existing policies," he said.  

ICAB President Maria Howlader, along with representatives from professional bodies such as the Bangladesh Tax Lawyers Association and VAT professionals, also participated in the discussion.