Bangladesh: Proof of Submission of Return (PSR) u/s 184A Finance Act 2022 (Bangladesh)

A major change has been made in requirement to furnish a proof of filing income tax return through section 184A in the Finance Act 2022. The section of law is titled as 'proof of submission of return (PSR) required in certain cases' which has been made mandatory for 38 kinds of services.

The proof of submission of return shall be furnished in the cases of –

(i) applying for a loan exceeding Taka five lakh from a bank or a financial institution;

(ii) becoming a director or a sponsor shareholder of a company;

(iii) obtaining or continuing an import registration certificate or export registration certificate;

(iv) obtaining or renewal of a trade license in the area of a city corporation or paurashava;

(v) obtaining registration of co-operative society;

(vi) obtaining or renewal of license or enlistment as a surveyor of general insurance;

(vii) obtaining registration, by a resident, of the deed of transfer, power of attorney or selling of a land, building or an apartment;

(viii) obtaining or maintaining a credit card;

(ix) obtaining or continuing the membership of the professional body as a doctor, lawyer, CA, CMA, engineer, architect or surveyor or any other similar profession;

(x) obtaining and retaining a license as a Marriage Registrar;

(xi) obtaining or continuing the membership of any trade or professional body;

(xii) obtaining or renewal of a drug license, a fire license, environment clearance certificate, BSTI licenses and clearance;

(xiii) obtaining or continuing commercial and industrial connection of gas in any area and obtaining or continuing residential connection of gas in city corporation area;

(xiv) obtaining or continuing a survey certificate of any water vessel;

(xv) obtaining the permission or the renewal of permission for the manufacture of bricks;

(xvi) obtaining the admission of a child or a dependent in an English medium school;

(xvii) obtaining or continuing the connection of electricity in a city corporation or cantonment board;

(xviii) obtaining or continuing the agency or the distributorship of a company;

(xix) obtaining or continuing a license for arms;

(xx) opening a letter of credit for the purpose of import;

(xxi) opening postal savings accounts of Taka exceeding five lakhs;

(xxii) opening and continuing bank accounts of any sorts with credit balance exceeding Taka ten lakhs;

(xxiii) purchasing savings instruments (Sanchayapatra) of Taka exceeding five lakhs;

(xxiv) participating in any election;

(xxv) participating in a shared economic activities by providing motor vehicle, space, accommodation or any other assets.

(xxvi) receiving any payment which is an income of the payee classifiable under the head "Salaries" by any person employed in the management or administrative function or in any supervisory position in the production function;

(xxvii) receiving any payment which is an income of the payee classifiable under the head "Salaries" by an employee of the government and non- government organizations, if the employee, at any time in the income year, draws a basic salary of taka sixteen thousand or more;

(xxviii) receiving any commission, fee or other sum in relation to money transfer through mobile banking or other electronic means or in relation to the recharge of mobile phone account;

(xxix) receiving any payment by a resident from a company on account of any advisory or consultancy service, catering service, event management service, supply of manpower or providing security service;

(xxx) receiving any amount from the Government under the Monthly Payment Order (MPO) if the amount of payment exceeds taka sixteen thousand per month by any educational institute;

(xxxi) registration or renewal of agency certificate of an insurance company;

(xxxii) registration, change of ownership or renewal of fitness of a motor vehicle of any types excluding two and three wheeler;

(xxxiii) releasing overseas grants to a non-government organization registered with NGO Affairs Bureau or to a Micro Credit Organization having license with Micro Credit Regulatory Authority;

(xxxiv) selling of any goods or services by any digital platforms to consumers in Bangladesh.

(xxxv) submitting application for the membership of a club registered under the Companies Act, 1994 and Societies Registration Act, 1860;

(xxxvi) submitting tender documents by a resident for the purpose of supply of goods, execution of a contract or rendering a service;

(xxxvii) submitting a bill of entry for import into or export from Bangladesh;

(xxxviii) submitting plan for construction of building for the purpose of obtaining approval from concerned authority.

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Reference/Citation

Finance Act 2022; Income Tax Ordinance, 1984 (Bangladesh)

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