The National Board of Revenue in Bangladesh is highlighting potential consequences for individuals who neglect to submit their income tax returns. With approximately 7.5 million out of 12.5 million TIN holders failing to file annually, authorities are emphasizing that those with taxable income are legally obligated to comply. Penalties for non-compliance include fines reaching up to 50,000 taka, as well as the potential suspension of essential utility services such as electricity and gas. Filing a return is also a mandatory prerequisite for accessing 45 distinct public and private services. Tax officials maintain that a significant portion of the population is currently avoiding their fiscal responsibilities despite meeting the criteria for taxable income. The government aims to enforce these measures to improve compliance rates among registered taxpayers across the country.
Source : Prothom Alo
Photo : Prothom Alo
