The National Board of Revenue for a second time has extended the deadline for tax return submission to November 15 to facilitate more taxpayers to submit their returns.
The extension comes as the deadline for return submission was scheduled to end October 31.
"We have extended the time for return submission by 15 days for individual taxpayers as many could not complete their tax related formalities on various grounds," Syed A Momen, senior information officer of NBR, told The Daily Star.
Earlier on September 30, the NBR extended the deadline by a month to October 31.
Earlier, trade bodies and tax lawyers wanted time extension as taxpayers suffered hassles after the NBR more than doubled the number of tax circles to 649 this year from the previous 303 to boost direct tax collection.
In many cases, the change led to a disorder in tax files, making it difficult for tax officials to locate all files.
Other reasons behind time extension include low rate of submission of tax returns. Many taxpayers could not submit their returns as they were busy preparing for the festivals, said Momen.
Till Oct 29, seven lakh tax returns were submitted. It is lower than last year's 8.41 lakh returns submitted till mid October, said an NBR official asking not to be named.
But the amount of tax receipts from return submissions rose to Tk 1,481 crore this year from Tk 1,056 crore last year, according to NBR data.
Of nearly 35 lakh TIN (taxpayer identification number) holders, only a third of them submit returns regularly. Many of them submit returns by seeking time after the deadline.
Over the past several years, income tax receipts grew by more than 20 percent annually thanks to NBR's motivational campaign such as holding of tax fairs.
A steady growth of the economy and rising incomes also facilitated increased direct tax collection, according to tax officials.
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