NBR launches VAT e-payment system

The National Board of Revenue (NBR) has launched an e-payment system to facilitate the payment of VAT in a quickly manner.

Senior Secretary of the Department of Internal Resources and Chairman of the NBR Abu Hena Md Rahmatul Munim inaugurated the e-payment system at 10 am Thursday (July 16) at the NBR conference room.

The chairman said the VAT online project is one of the most important projects of the NBR. Activities have been undertaken to introduce Integrated VAT Administration System (IVAS) through VAT online project for its successful implementation.

He revealed that under the registration module, one lakh 66 thousand 720 taxpayers have already received their Bank Identification Numbers (BIN) online. Besides, online return submission system has been functional since October 2019. More than 42,000 filed returns online so far.

Training is being provided to enable all the people registered to file returns online, he added.

NBR Chairman said the payment module is being launched with the belief of implementing the Prime Minister's announcement to build a Digital Bangladesh, as well as to take the country much ahead in the Ease of Doing Business Index by reducing costs.

On the other hand, work on the e-payment module has already been completed, mentioned Abu Hena Md Rahmatul Munim. He said all the VAT related taxes (VAT, turnover tax, supplementary duty, penalty, interest etc.) can be paid using the e-payment system.

E-payment activities are currently being launched through HSBC, Prime and Midland Bank. All banks would be involved in the process by next December, he said.

According to NBR sources, using this method, a person registered under VAT can easily deposit any tax payable, including VAT and supplementary duty, directly from his own bank account, in a risk-free manner and in a short time.

sr/teb