The National Board of Revenue (NBR) has announced a tax incentive of up to 5 per cent for individual taxpayers who file their income tax returns by September 30, aiming to encourage voluntary tax compliance and timely submission of returns.
Under a new provision of the Income Tax Act, 2023, individual taxpayers and Hindu Undivided Families (HUFs) that file their returns between July 1 and September 30 will receive a tax rebate equivalent to 5 per cent of the tax payable, subject to a maximum benefit of Tk 25,000.
However, no tax incentive will be available for returns filed between October 1 and December 31.
The revenue authority has also introduced penalties for delayed filing. Taxpayers submitting returns between January 1 and March 31 will have to pay an additional tax equivalent to 2 per cent of the tax payable or Tk 3,000, whichever is higher.
Those filing returns between April 1 and June 30 will have to pay an additional 5 per cent of the tax payable or Tk 5,000, whichever is higher.
In a press release issued on Sunday, the NBR said the incentive is expected to encourage taxpayers to file returns at the beginning of the filing season, strengthen the culture of voluntary tax compliance and improve the efficiency of tax administration.
The NBR also reminded taxpayers that its e-Return service for the 2026-27 tax year was launched on July 22. Taxpayers can file their returns online through the e-tax portal and pay taxes using bank transfers, debit and credit cards, as well as mobile financial services such as bKash, Nagad and Rocket.
The revenue board said taxpayers would receive instant acknowledgement receipts and income tax certificates after successfully submitting accurate returns online. It added that officials would provide assistance through the NBR call centre and other electronic platforms during office hours, except on government holidays.
The NBR urged taxpayers to file their returns by September 30 to avail themselves of the tax rebate, as no incentive will be available for returns submitted after the deadline.
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