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NBR to allow early tax return submissions from next fiscal year

NBR bank
by Insider Desk
September 11, 2024

From the next fiscal year, taxpayers in Bangladesh will be able to start submitting their tax returns from July 1, the National Board of Revenue (NBR) announced on Tuesday.

This is part of the NBR’s push towards digital tax submissions, which aim to simplify the process and reduce in-person interactions with tax officials.

NBR Chairman Abdur Rahman Khan revealed this during a press briefing at the NBR headquarters in Dhaka following a meeting with the finance adviser. The initiative is designed to encourage taxpayers to submit income tax returns, wealth statements, and other tax-related documents online, easing the burden on the tax administration and individuals.

The NBR launched an online return submission portal in 2016, but technical issues delayed its progress. A revamped portal version was introduced in 2021, although it faced challenges. “Now, we are fully ready to accommodate nearly one crore taxpayers from this fiscal year,” Khan said.

Around 5 lakh taxpayers submitted returns online in the last fiscal year, while 38 lakh did so manually. Bangladesh currently has 1.4 crore people with Taxpayer Identification Numbers (TINs). Khan hoped that online submissions would grow to 15 lakh by the end of the current fiscal year.

Finance and Commerce Adviser Salehuddin Ahmed, present at the meeting, emphasized the importance of expanding the tax net and improving service quality rather than pressuring taxpayers for collections. He praised the digital system, saying it would increase transparency by reducing direct interactions between taxpayers and officials.

Reforms are being gradually introduced at the NBR as part of the interim government’s broader effort to improve efficiency across various sectors.

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