Taxpayers have only two months left to file their income tax returns without penalties. Under the system now in force, returns filed up to 31 December attract no additional tax; from 1 January, the National Board of Revenue's online system will add the penalty automatically, and a return filed paying only the assessed tax will not be accepted.
The change is part of a wider shift. From this year, online filing through the eReturn portal is mandatory for most individual taxpayers, with paper filing retained only for listed groups such as taxpayers aged 65 or over and Bangladeshis living abroad. Bangladesh has more than 12.5 million Taxpayer Identification Number holders, but only around five million file returns each year — a gap the NBR is clearly trying to close.
The new calendar, in plain terms
- 1 July–30 September: early filers received a rebate of 5 per cent of tax paid, capped at Tk25,000.
- 1 October–31 December: the current window — no rebate, but no additional tax either.
- 1 January–31 March: additional tax of 2 per cent of tax payable or Tk3,000, whichever is higher.
- 1 April–30 June: additional tax of 5 per cent or Tk5,000, whichever is higher.
The practical advice is therefore simple: do not wait for December's rush. Gather the salary certificate, bank statements, investment and rebate documents, and last year's return now, and check that the mobile number linked to the TIN is biometrically registered in the filer's own name, as the portal requires.
The cheapest tax return is the one filed on time. Every month of delay now has a price tag attached.
A note on rebates
Eligible investments — including DPS, life insurance, recognised provident fund contributions, savings certificates and listed stocks and mutual funds — can still reduce tax through the rebate, subject to the usual limits. But investments made only to chase a rebate, without regard to risk and liquidity, are a poor trade. File on time, claim what is genuinely eligible, and keep every document: the system may not ask for uploads, but the tax office can ask to see them later.
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