Frequently Asked Questions for Income Tax in Bangladesh
Publcihed by Admin 3 weeks ago
1. What is income tax in Bangladesh?
Income tax is a direct tax levied by
the government on the income
earned by individuals, companies,
and other entities in Bangladesh. It
is governed by the Income Tax
Ordinance, of 1984.
2. Who is liable to pay income tax
Any individual, company, or
organization that earns income in
Bangladesh or has a taxable
presence in the country is liable to
pay income tax. The tax liability
depends on the income earned and
the applicable tax rates.
3. What is the income tax year in
The income tax year in Bangladesh
runs from July 1st to June 30th. It
is commonly referred to as the
4. What are the different types of
income tax returns in Bangladesh?
In Bangladesh, there are various
types of income tax returns,
- Individual Income Tax Return (IT-10): For individual taxpayers.
- Company Income Tax Return (IT-11GA): For registered companies.
- Partnership Firm Income Tax Return (IT-11GHA): For partnership firms.
- Individual Asset and Liability Statement (IT-10BB): For individuals with specified assets and liabilities.
- Statement of Deduction of Income Tax at Source (IT-16): For withholding tax deductions by employers.
5. How is income tax calculated in
The income tax calculation in
Bangladesh follows a progressive
tax rate structure. Different tax
slabs apply to different income
levels, with higher rates for higher
income brackets. The applicable
tax rates and slabs may change
from year to year based on
6. What are the important dates for
filing income tax returns in
The income tax return filing
deadline for individual taxpayers is
usually November 30th following
the end of the tax year. For
companies and other entities, the
deadline is January 15. However,
it's important to check the specific
deadlines announced by the
National Board of Revenue (NBR)
for each tax year.
7. What documents are required
for filing an income tax return?
The documents required for filing
an income tax return in Bangladesh
- National Identification Number (NID)
- Tax Identification Number (TIN)
- Salary statements, wage books, or income certificates
- Bank statements and interest certificates
- Business income and expense records (for self-employed individuals and businesses)
- Investment and asset details
- Deduction and exemption documents (such as life insurance premiums, charitable donations, etc.)
8. What are the penalties for late
filing or non-filing of income tax
If an individual or entity fails to file
an income tax return within the
specified deadline, they may be
subject to penalties and interest
charges. The penalties can vary
based on the length of the delay
and the amount of tax owed.
9. How can I pay income tax in
Income tax can be paid through
various methods, including online
payment systems, designated bank
branches, and mobile financial
services. The National Board of
Revenue (NBR) provides detailed
instructions on different payment
10. Where can I get help or more
information regarding income tax
For detailed information and
assistance regarding income tax in
Bangladesh, you can contact the
National Board of Revenue (NBR) or
visit their website. Additionally,
seeking advice from professional
tax consultants or chartered
accountants can also be beneficial.