More than 2.4m taxpayers submit returns last fiscal
The number of submission of returns by individual taxpayers increased by almost 15 per cent in the last fiscal (FY21) despite the Covid-19 pandemic as a total of 2,430,645 tax identification number (TIN) holders submitted their returns during that period, reports BSS.
According to the National Board of Revenue (NBR), a total of 2,114,385 individual taxpayers submitted their returns in the FY20. Some 316,260 more individual taxpayers submitted their returns in the last fiscal.
Talking to the journalists, NBR member (income tax policy) Md Alamgir Hossain said that although the entire country went through the pandemic, the NBR had tried to stand beside the common people during that period under the directives of prime minister Sheikh Hasina.
"The offices of revenue board was not remained closed for a single day while the revenue collection as well as the number of returns increased in that period since all tax related services remained open," he added.
Alamgir also opined that the revenue collection increased due to strict monitoring and some legal changes in realising tax at source.
The NBR official said, "Since it has been made mandatory to submit returns for all TIN holders, the number of submission of tax returns increased last year. Besides, awareness has been created among people in submitting returns and we're getting its benefits."
The number of TIN holders in the country is 5.6 million. The revenue collection in the last fiscal year (FY21) was 2.60 lakh crore, 20 per cent higher than the FY20.