The National Board of Revenue (NBR) today extended the deadline for tax return filing by companies by two months to April 30, according to an order.
The announcement comes just a day before the deadline for the submission of income tax returns by firms expires. Earlier, the NBR extended the time from January 15 to February 28.
"We have extended the deadline in response to the request from businesses so that companies can comply properly," said Bapan Chandra Das, second secretary for tax law at the NBR.
Last week, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urged the tax administration to grant more time as businesses are yet to get a comprehensive idea about the Income Tax Law 2023, which became effective in June last year.
Besides, the FBCCI said, it is taking time to get the documents ready for auditing as a result of the unfriendly global environment, higher inflation, the dollar crisis and businesses' engagement for the import of items ahead of Ramadan, it added.
Companies are also facing delays in securing documents verification code (DVC) and finalising the audited financial statements, said the apex trade body in its letter to the NBR.
The DVC authenticated that financial accounts are audited by chartered accountants. Companies are required to use the DVC in their audited accounts as per the NBR rule.