The National Board of Revenue is likely to extend to December 31 the deadline for submission of income tax returns because of far lower than expected response from individual taxpayers amid political uncertainty, officials said. A proposal made by the NBR for the extension of the deadline was approved by the finance minister AMA Muhith on Wednesday evening, they said.
NBR is likely to come up with the announcement of the extension on December 1, the day when the current deadline for submission of tax returns will expire.
Apart from the political unrest, submission of far lower than expected tax returns is forced NBR to extended the deadline for the third time in the current fiscal year. Earlier, the actual deadline of September 30 was extended to October 31, and then to December 1 again.
About 1.7 million people are now holding tax identification number in the country. But less than one third of them have so far submitted the tax returns, the officials said.
-With New Age input
