Income Tax Return Preparer

SRO no.168/AIN/Income Tax/2023 – This SRO outlines the requirements, duties and incentives of a tax return preparer.

Requirements of a tax return preparer:
– Has to be a Bangladeshi citizen not having a government job
– Has to be a graduate or equivalent
– Has to have basic idea on preparing and submitting income tax returns
– Has to have knowledge about computers and ICT
– Has to pass the board tax experience exam
– Has to have a TIN and acknowledgement of return

The board will provide certification as a tax return preparer if:
– The person is a chartered accountant, cost management accountant or chartered secretaries
– Is an advocate registered with the Bangladesh Bar Council
– Is an tax advocate as per section 174 of the Ordinance

Duties of a tax return preparer:
– Has to prepare returns diligently and responsibly
– Has to ask for consent from the respective person before preparing and submitting the return
– Has to provide a copy of the return to the respective person
– Has to retain and provide the acknowledgement of proof of return to the respective person

Incentives awarded to a tax return preparer, provided that certain conditions are fulfilled:

1. For the first, second and third assessment year
– On minimum tax – 10%
– On the next 15 thousand – 2%
– On the next 50 thousand – 1%
– On the remainder – 0.5%

2. For the fourth and fifth assessment year:
– On minimum tax – 5%
– On the next 15 thousand – 1%
– On the next 50 thousand – 0.5%
– On the remainder – 0.25%