New e-tax filing system likely in Sep
The National Board of Revenue
(NBR) is likely to launch its new online tax return filing system in September
this year, said officials yesterday.
The system will enable taxpayers
to furnish their income, expenditure and wealth statements without going through
the hassle of visiting tax offices.
Initially, individual taxpayers
will get the scope to file returns electronically. From next year, companies
may get the same opportunity.
"Once the system is
lunched, taxpayers will be able to complete the formalities, including tax
payment, electronically," said a senior NBR official seeking to remain
unnamed.
"We are designing the
system in a way that taxpayers get
acknowledgement receipt and tax
certificate after submission of returns," said the official.
The development comes nearly a
year past the NBR deciding to develop the system with its own resources placing
its initial scheme, Bangladesh Integrated Tax Administration System (Bitax), on
technical audit.
This was against the backdrop of
allegations that the initial system was not user-friendly and had failed to
attain the desired goals.
In October last year, the NBR
formed a team to design the online return system, business process and
applications as a part of its responsibility to develop the overall apparatus.
It also formed a steering
committee, headed by its Chairman Abu Hena Md Rahmatul Muneem, to monitor the
overall progress in designing and implementing the system so that it could be
brought to use in the quickest possible time.
Officials said the NBR has
developed a new artificial intelligence-based system.
The official said public sector
employees would find the system convenient as it would collect information
regarding salaries through the government's Integrated Budget and Accounting
System (iBAS).
Besides, marginal taxpayers and
taxpayers who have nothing to show in their returns will also find the system
very helpful, the official said.
The NBR set rules last fiscal
year stipulating that holders of taxpayer identification numbers (TINs) would
have to file tax returns even if they do not have taxable income.
The exception will be two types
of individuals: those who do not have any income but have to take TINs to get
credit cards and those who have got TINs to sell land and do not have any
income. They will not have to submit returns.
There are nearly 38 lakh TINs
holders, who are either marginal taxpayers or have nothing to furnish in their
returns, he said.
Currently, more than 62 lakh
registered individuals, companies and firms have TINs.