The National Board of Revenue (NBR) has granted a two-month extension for companies to file their tax returns, pushing the deadline to 30 April.
NBR issued a notice in this regard today -- a day before the initial deadline for firms to submit their income tax returns was set to expire.
Previously, the NBR had extended the deadline from 15 January to 28 February.
Last week, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) had urged the tax administration to provide more time, citing the challenges businesses face in understanding the intricacies of the Income Tax Law 2023, which came into effect last June.
FBCCI highlighted that delays in preparing documents for auditing are being exacerbated by global economic conditions, heightened inflation, a dollar crisis, and increased business activities preceding Ramadan.
Additionally, the FBCCI noted that companies are experiencing delays in obtaining the Document Verification Code (DVC) and finalising audited financial statements.
The DVC serves as authentication that financial accounts have been audited by chartered accountants, as mandated by NBR regulations.