Brief Rules of Income Tax Return in Bangladesh

Bangladesh has clear rules about how and when a person must file an income tax return with the government. The timing and nature of the various returns are summarised below.

Types of return and their timing

1. Return for people leaving Bangladesh before the end of an income year (income tax return).
2. Normal income tax return for resident and non-resident Bangladeshis (except companies). The deadline is 30 November for assessment year 2016–17.
3. VAT return for eligible assessees, due before the 15th of each month.
4. Withholding tax return for companies, due on 31 January and 31 July of the income year.
5. Annual Information Return for NGOs, companies and co-operative societies, due on 31 January and 31 July.
6. Effective return for any person who has received a written notice from the NBR requiring a return on dates other than those for the normal return.
7. Revised return, which should be filed by any person who has not filed a return as normally required.
8. Statement of assets, liabilities and expenses, which must be filed by every person who has a net worth of more than 20 lakh, owns a motorcar, or has invested in house property in a city corporation area.

Why timely filing matters

Everyone must file their income tax return within the relevant time limit to avoid penalties imposed by the government. Keeping track of which return applies, and when it is due, is the first step toward staying compliant.