In Bangladesh, individuals and businesses have a responsibility to file their income tax returns throughout the tax season. It’s an essential duty that supports government revenue collection and public service maintenance. However, there may be fines and penalties if your taxes are not filed on time. Visit here to file your tax returns with Shapla.
There can be a late filing fee if you file your income tax return after the deadline. The exact price may change depending on how late you send in your return. In order to reduce this penalty, it’s critical that you file your return as soon as possible. Delayed interest would be imposed by 4% per month (up to 24 months) as a penalty.
Here are some important actions you may take to maintain tax law compliance and prevent these penalties:
1. Put the deadline for paying taxes—typically the end of the financial year—on your calendar.
2. Collect the required financial information and documentation well in advance.
3. Make sure to accurately and timely file your tax return.
4. To avoid interest fees, pay any taxes payable by the deadline.
5. If you are unclear about the tax regulations or have complicated financial circumstances, get professional tax guidance from Shapla. Shapla offers an app and an online portal to streamline the tax filing process. You can simply sit back home and file your tax returns through Shapla. Visit here to learn more about tax filing with Shapla.