NBR moves to link tax database with stock market investor records
The NBR chief said that connecting the tax database with the CDBL will significantly simplify the collection of dividend information from the large number of investors in the stock market who receive small dividends.
The National Board of Revenue (NBR) is moving forward with plans to integrate its tax server with stock market investor data held by the Central Depository Bangladesh Limited (CDBL), according to NBR Chairman Abdur Rahman Khan.
Speaking at a programme organised by the Dhaka Reporters Unity (DRU) in the capital's Segunbagicha today (21 December), the NBR chief said that connecting the tax database with the CDBL will significantly simplify the collection of dividend information from the large number of investors in the stock market who receive small dividends.
Abdur Rahman noted that the NBR has already successfully connected its system with savings certificate information.
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He further suggested that integrating assessees' bank account information would make it substantially easier for taxpayers to submit online returns, as they would no longer need to visit all their respective banks to collect Tax Deduction at Source (TDS) certificates. Crucially, he clarified that only the assessee would have access to their bank-related personal information, ensuring privacy from tax officials.
Warning against non-disclosure in the new digital framework, Abdur Rahman said, "You cannot hide any information on a digital platform." He added a caution to taxpayers: "If you have deposits in bank accounts and do not disclose them, it may create problems. You must declare them."
Regarding the possibility of extending the current tax return submission deadline beyond 31 December, the NBR chairman offered no direct response. He merely commented that the decision rests with "the government or higher authorities."
Abdur Rahman informed the audience that approximately 42 lakh assessees have so far registered for online tax returns, with 26 lakh already having submitted their returns.
The event, titled "Inauguration of Income Tax Return Submission Supporting Booth," was arranged by the Dhaka Reporters Unity to assist its members with tax return submissions through expert guidance.
DRU President Abu Saleh Akon and General Secretary Mynul Hasan Shohel were among the other speakers.
