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Saturday, April 19, 2014

Tuesday, September 28, 2010
Business

Extend time for tax return: BCI

The Bangladesh Chamber of Industries (BCI) yesterday demanded that the government extend the deadline for submitting tax returns, to ease the process for the payers.

BCI recommended extending the date till October 31.

The chamber made the call at an emergency meeting at its headquarters in Dhaka, with Shahedul Islam Helal, the chamber's president, in the chair.

The chamber said people are submitting their income tax returns by queuing up for hours at the Income Tax Fair in Dhaka. Many are also failing to do so as it is taking a long time.

As a result, many would not be able to submit their income taxes by September 30, BCI said.

The National Board of Revenue (NBR) organised the five-day fair, inaugurated simultaneously at the Institute of Diploma Engineers auditorium in Dhaka and MA Aziz Stadium in Chittagong.

The fair is giving tax identification numbers to new taxpayers and helping others to fill their income-tax forms from 10am to 6pm every day.

At the meeting, Islam said the government has to simplify the income tax return submission procedure to increase the tax-gross domestic product ratio, which is at 8.5 percent -- one of the lowest in South Asia.

“People should be made aware of the procedures,” the BCI president said.

He also urged the government to make the Income Tax Fair an annual and regular event.

BCI Vice President Delwar Hossain Raja, directors Golam Mostafa Talukder, Pritey Chakravarty and AK Azad were also present at the meeting.

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