NBR officials, BRAC Bank corporate clients exchange views

BRAC Bank organised a roundtable discussion where the bank’s corporate customers have exchanged views with the high officials of National Board of Revenue (NBR) about their experience of paying VAT and other duties online.

NBR VAT Online Project Director (Commissioner) Kazi Mostafizur Rahman was the chief guest at the roundtable titled “Enhancing Customer Experience for online VAT Payment through API Connectivity” held at the bank’s head office in Dhaka on November 4, said a media statement on Wednesday.

BRAC Bank Deputy Managing Director and Head of Corporate Banking Tareq Refat Ullah Khan took part in the discussion as the panelist while Head of Transaction Banking Jabedul Alam moderated the session.

Other senior officials of Corporate Banking, Transaction Banking and Trade Development were also present.

Earlier in July 2021, BRAC Bank became the first private commercial bank in Bangladesh to join NBR’s online VAT payments system through API connectivity enabling the bank’s business customers to pay VAT and other taxes digitally.

Using this facility, the bank’s corporate clients are paying their VAT, VDS, and supplementary duty directly from their respective BRAC Bank accounts with real-time data validation with NBR using CORPnet, BRAC Bank’s unique internet banking platform for corporate customers.

This integration saves a lot of time, money and energy of the clients who now do not need to visit bank or tax office to make payment to the government coffer. NBR’s initiative taken in light of the government’s vision of a Digital Bangladesh, has resultantly strengthened its revenue mobilisation drive.

The corporate clients and the management of the NBR took part in the discussion on how to build on the success of the first phase of the ‘Online VAT Payment Project’ to ensure its widespread adoption and elevate the customer experience.

Commenting on the initiative, Tareq Refat Ullah Khan said, “This government and private sector dialogue provides a unique opportunity for our valued clients to offer their suggestions and feedback so that NBR can consider incorporating those insights in next phase of the project. With such discussion we can help enhance user experience and encourage more organisations to use the digital system in paying VAT and taxes to the government exchequer.”