VAT

Much has been said about the modernisation and automation of the value-added tax system in Bangladesh over the last decade. Yet, the automation of the VAT administration is halfway, although the project's tenure is supposed to come to its end this year. Businesses say they can get...

The country's apex trade body -- Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) -- today demanded an investigation into the "failure in widening the tax net by the NBR, although several hundred crore of taka was spent as consultancy fee for introducing the multiple VAT...

Bangladesh expects a bigger inflow of foreign direct investment in the days to come as different nations plan to relocate their factories to countries like Bangladesh to bring down cost amid a cash crunch caused by the pandemic, said Commerce Minister Tipu Munshi yesterday. In 2019, the...

An announcement from the National Board of Revenue regarding the filing of value-added tax returns have thrown businesses into trouble. The sudden move announced on April 10, came as a surprise to many businesses who have kept their offices and activities shut since the government declared general...

The Economic Relations Division (ERD) has found poor implementation of the Disbursement Linked Results (DLR) on major components of the VAT Online Project (VOP) that may affect getting its remaining fund from the World Bank (WB). Some 50 per cent or US$ 30 million of the WB's...

Businesses are facing difficulties to submit their VAT returns online following repeated complexities and cumbersome procedures. A number of large businesses have already lodged complaints with the VAT authority, as they failed to submit their returns online. However, the National Board of Revenue (NBR) is charging Tk...

The new VAT (Value Added Tax) law has mostly been transformed into its 1991 version because of myriad changes made during the past six months, critics have said. Economists were critical of this edition, saying changing the provisions of the fresh law has made it far worse...

Facebook is likely to appoint a VAT agent to ensure payment of value-added tax from their advertisement earnings from Bangladesh market. “We have talked to the government. The company will abide by all the existing laws of the country, Faceboo’s Public Policy Director in India and South...

The tax collector has moved to remove the complexities over issuing the VAT registration after it found 80 per cent of the businesses have not updated their identification yet. Some 20,000 businesses have updated their Business Identification Number (BIN) since July according to guideline under the new...

China will fight back against the latest US step to increase tariffs on Chinese goods, the ruling Communist Party’s People’s Daily said on Sunday amid an escalating trade war between the world’s two largest economies. ‘China is confident that it will follow its own path and do...