The National Board of Revenue (NBR) has consistently failed to meet its revenue collection targets for over a decade. The trend appears to continue this year, making it unlikely that the board will achieve its set goals. Against this backdrop, the NBR has formally requested the Ministry of Finance to establish more realistic revenue targets for the upcoming three fiscal years to ensure feasibility and better financial planning.

In a recent letter addressed to the Secretary of the Finance Division, NBR Chairman Md. Abdur Rahman Khan cautioned that setting revenue collection goals without adequate review and research would once again lead to failure at the end of the fiscal year. He emphasized the need to align revenue targets with the country's economic growth, production, and commercial activities to break the cycle of underachievement.

The letter highlighted that during a meeting of the Budget Management Committee within the Internal Resources Division, a proposed revenue collection target was reviewed for the fiscal years 2025-26, 2026-27, and 2027-28. The projected targets for these years are set at BDT 5,64,411.92 crore, BDT 6,49,073.71 crore, and BDT 7,46,434.76 crore, respectively.

However, the NBR expressed concerns over the estimation process, stating that the projected revenue figures appear to lack practical viability. The letter suggested that such projections should be based on previous years’ overall revenue growth trends to ensure a realistic outlook. Without such an approach, the estimated revenue collection is likely to remain an unrealistic aspiration rather than an attainable objective.

Failure to meet the revenue targets year after year has led to criticism of the NBR's efficiency and effectiveness. The letter acknowledged that continuously setting inflated budget targets, only to miss them consistently, has raised questions about the credibility and acceptance of the revenue board’s financial planning.

Meanwhile, today marks the final deadline for individual taxpayers to file their annual income tax returns following three extensions. Initially, the deadline was set for November 30, but it was extended multiple times, with the latest extension allowing submissions until February 16. The NBR had issued an official order on January 30, extending the deadline to accommodate taxpayers who could not meet previous cutoffs.

Taxpayers who prefer the traditional paper-based filing system must visit their respective tax offices today to submit their returns. According to NBR sources, as of February 15 at noon, a total of 13,95,000 tax returns had been filed online. The total number of Taxpayer Identification Number (TIN) holders currently stands at 1,12,74,853.

Between July 1, 2024, and February 6, 2025, approximately 37,53,730 tax returns were submitted, with 13,35,089 of them filed through the online system. Among the total return filers, 24,07,536 were individual taxpayers, while 11,105 were corporate entities. The NBR reported that during this period, BDT 5,654.06 crore was collected in income tax revenue.

For those opting for the online system, tax returns can be filed via the designated government portal. Before submitting a return online, taxpayers must first register using their TIN and a biometric-registered mobile phone number. Once registered, taxpayers can proceed with the e-filing process without the need to upload or submit physical documents; only the required information needs to be entered into the system.

The NBR has encouraged taxpayers to take advantage of the online filing system, which simplifies the process and reduces the burden of paperwork. As the deadline approaches, tax offices are expected to experience a last-minute rush, with taxpayers making final efforts to comply with filing requirements before the cut-off time.