DHAKA, Feb 27, 2024 (BSS) - The National Board of Revenue (NBR) today extended the deadline for filing of tax returns by companies by two months to April 30, 2024, said an order of the NBR.

The announcement came just a day before the deadline for the submission of income tax returns by firms expires. Earlier, the NBR extended the timeframe from January 15 to February 28.

Last week, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) urged the revenue board 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.