Final Settlement of Tax

Final Settlement of Tax is once tax already deducted or collected at source from certain incomes allowed by the Tax Authority then those incomes will not be further taxed under the normal Tax rate. The amounts of the final Tax will not be carried forward to next year if it has not been recovered within the same year on which the tax has been deducted or collected.

The National Board of Revenue (NBR) of Bangladesh has been allowed certain incomes by issuing one Statutory Regulatory Order (SRO) No: 253-AIN/Income Tax-09/2023. If tax is deducted or collected at source from those certain incomes then the tax already deducted or collected at source, will be considered as the final settlement of tax.

Now, Describing the types of incomes and for whom the mentioned Statutory Regulatory Order (SRO) No: 253-AIN/Income Tax-09/2023 is applicable as follows: