Income tax collection  grows by 13.3pc in July-Nov

Staff correspondent | Published at 12:00am on December 04, 2019

Income tax collection in July-November period of the current fiscal 2019‑2020 grew by 13.30 per cent to Tk 24,836 crore compared with the corresponding period of 2018-2019.

Of the total amount collected, individual taxpayers paid around Tk 3,800 crore with their income tax returns for the FY20 filed within the deadline set for December 1, according to the provisional data of the National Board of Revenue.

This year, 22 lakh individual taxpayers filed their income tax returns and submitted petitions seeking additional time for returns submission against that of 20.07 lakh which the revenue board received within the December 2-deadline in FY19.

The revenue board claimed on various occasions that the number of income tax returns had finally reached to around 22 lakh in FY19.

NBR data showed that more than half of 46 lakh electronic taxpayers’ identification number (e-TIN) holders did not file their tax returns this year.

The number of e-TIN holders was 38 lakh till November 30 last year.

Tax authorities expected that at least 30 lakh e-TIN holders would file their tax returns as a result of intensive campaigns and policy interventions taken by the NBR to boost the number of returns filed.

In FY18, a total of 18.35 lakh taxpayers filed their tax returns, the data showed.