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Advance Income Tax, NBR and Language of threat June 10, 2009

Posted by bdoza in BANGLADESH, ECONOMY, Income Tax.
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In the last few days we have come across a notice from the NBR in different dailies to submit 4th quarter of Advance Income Tax for the year for the financial year 2008-09.

In the notice the authority asked the taxpayers to submit the tax by 15th of June, 2009 in advance for the 4th quarter along with the payment of the earlier quarters if not paid already.

In the notice, it is threatened that if the tax is not paid in the defined time, the taxpayers will be fined the same amount of money they are to pay as taxes according to the Income Tax Ordinance of 1984, clause 125 and will have to pay interest at the rate of 10% according to the clause 73.

It is common practice that the taxpayers submit their taxes at the end of the financial year usually by the next September, sometimes the time is extended depending on the political situation and natural calamities.

Giving advance payment of taxes should be taken as a good gesture on the part of the citizens and NBR should think how to reward this good citizens.

NBR should in no way talk in the language of threat for failure of advance payment of taxes. If there is any laws and regulations for threat in the Ordinance that should be changed as the language represent the colonial mentality of the pre-liberation era that cannot differentiate between good and bad deeds of the citizens.

The ordinary citizen opines that for payment of advance taxes, not the language of threat but language of appreciation from NBR should be extended.

An ordinary citizen

Comments»

1. Mohammad rafiqul Islam - October 16, 2009

is there any advance income tax on indirect export

bdoza - October 16, 2009

I am not an Income Tax Lawyer. But when I asked a Lawyer he said that it is the rule to give advance tax on indirect export. Checkit with your lawyer.