A persistent gap between the number of registered companies and corporate tax filings continues to raise concerns over revenue mobilisation in Bangladesh, according to official data.

The National Board of Revenue (NBR) reported that only 39,659 companies filed tax returns in FY 2024-25, a 4% rise from 38,130 a year earlier. Despite gradual growth, the figure remains far below the more than 300,000 companies registered with the Registrar of Joint Stock Companies and Firms (RJSC). Of these, around 100,000 are currently active, submitting audited accounts and directors’ lists.

Corporate tax is a major source of domestic revenue, yet existing taxpayers complain of repeated audits and scrutiny, while many potential contributors remain outside the net. Several attempts to reconcile data between the NBR and RJSC have failed to produce results.

The Institute of Chartered Accountants of Bangladesh (ICAB) introduced a Document Verification System (DVS) in 2020 to curb forged financial statements. Around 58,000 companies have since obtained verification codes, but many still do not file tax returns. “I have no idea why they are not filing,” ICAB President NKA Mobin said, calling for annual reconciliation.

NBR Chairman Abdur Rahman Khan argued that aligning data with RJSC or ICAB may not yield significant changes, as some firms are taxed individually and not all are required to submit returns.

RJSC Registrar AKM Nurunnabi Kabir said many registered firms are inactive or awaiting relaunch, while defunct companies are gradually being delisted.