Taxpayers to be able to file returns throughout the year: NBR chairman
Currently, taxpayers are required to file returns by November without any penalty after the end of the fiscal year in June
The National Board of Revenue is going to introduce a year-round income tax return submission system, NBR Chairman Md Abdur Rahman Khan has announced.
During the meeting with the Newspaper Owners Association of Bangladesh (Noab), the NBR chairman said that in the future, taxpayers will be allowed to submit tax returns throughout the year after the completion of the income tax year.
He said that taxpayers submitting returns within the first quarter (July–September) may receive incentives. In the second quarter (October–December), the normal tax rate would apply, while additional charges may be imposed for submissions in the third and fourth quarters.
Keep updated, follow The Business Standard's Google news channel
However, he did not specify the types of incentives for those filing in the first quarter or the penalties for those filing in later quarters.
Currently, taxpayers are required to file returns by November without any penalty after the end of the fiscal year in June. If the NBR extends the deadline, taxpayers can avail themselves of the extended time. Failure to submit returns within the stipulated period results in fines and interest, and taxpayers also lose eligibility for investment-related tax rebates.
Meanwhile, the deadline for submission of individual income tax returns for the 2025–2026 tax year ended today (31 March) after several extensions.
To make the extension process easier, faster, more transparent, and more convenient, the NBR has introduced an online system through its e-Return platform.
More than 50 lakh individual taxpayers have registered in the NBR's e-Return system, while over 42.5 lakh taxpayers have submitted their returns online.
