Taxpayers in Bangladesh may soon have the option to file their tax returns at any time, even after the deadline, by paying a penalty and interest on the payable amount. This initiative by the National Board of Revenue (NBR) aims to reduce harassment and create a more taxpayer-friendly system. The proposed change, which may be implemented in the upcoming national budget, would eliminate the need for time extensions and empower taxpayers to file returns without facing unnecessary bureaucratic hurdles. Experts welcome the move, stating that it will encourage more individuals to comply with tax regulations. The current system, which grants authoritarian power to tax officials, often leads to delays and manipulation. Despite an increasing number of Tax Identification Number (TIN) holders, the expected rise in tax return filings has not materialized.
Taxpayers to Have Flexible Filing Option but with Penalty
- Published On May 22, 2023
- 2:34 pm
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