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** People don't need more government servants to make election cheating easier ** Bangladesh ranks 12th most corrupt country ** Power tariff hiked again ** DITF- 2023 ends with $39.48m export orders ** Children frolicking over a ride taking risks on Tuesday, as two dangerous high voltage transformers remain installed adjacent to a park of Old Dhaka’s Laxmi Bazar St. Gregory School. NN photo ** What action has been taken to prevent Dhaka's air pollution ** Blinken criticises settlements but stresses US support for Israel ** IMF approves $4.7 billion loan for Bangladesh ** Amar Ekushey Book Fair kicks off today ** We want to know how corruption is to be eliminated under a corrupt government ** Thousands of leaders and activists of BNP join the party's march programme towards Jurain from Jatrabari with banners, festoons, national flags and party flags in their hands on Monday. NN photo ** Foreign aids disbursement, commitment declined ** Awami League leaders and activists gather at a peaceful rally in front of party's central office at Bangabandhu Avenue in the capital on Monday which was arranged by Dhaka South City unit of Awami League. NN photo ** SSC, equivalent exams from April 30 ** HC issues rule on formulation of policy over handcuffing, shackling of accused ** Zamzam water sales halted temporarily ** SIBL Chairman and AMD resigned ** Dr. Zafrullah honoured by UK organisation ** Rohingyas now become a big challenge for us: RAB DG ** EC wants to know whereabouts of B'baria missing candidate ** Govt would not find way to flee: Fakhrul ** Legal action will be taken against attackers on Engr. Yazdani: Minister ** AL never flees, works for people's welfare: PM ** 2 walk to gallows for violating minor girls ** Corruption a major barrier in ensuring a fair business environment: CPD **

VAT collected from buyers should be paid

04 November 2022


Around 22 per cent of business enterprises do not submit VAT returns though the number of total enterprises under VAT registration is 372,934 till August this year. A total of 371,934 business enterprises have come under the VAT registration, and of those 290,899 enterprises regularly submit VAT returns, denoting 21.79 per cent do not submit VAT returns.
NBR has been expecting that the submission of online VAT returns will be 85 per cent by the end of the year. The online platform is being strengthened and the automation will reduce the complexity of such matters. NBR sources said the VAT-registered enterprises in FY2020-21 was two lakh and 91 thousand. After the enactment of the new VAT Act in July 2019, the Electronic Business Identification Number (e-BIN) was made compulsory. None can submit VAT returns without e-BIN.
Currently, there are 12 VAT commissionerate offices across the country. Of them, five are located in the capital. In order to increase the VAT net, all the eligible enterprises are being brought under VAT net compulsorily. Earlier the business entities were given VAT registration through the traditional system and it had an 11 digit number on the registration paper. As per the new VAT regulation, no VAT will be realised from the entity if the annual transaction is below Tk 50 lakh. When the transaction is above Tk 50 lakh and below three crore taka, the turnover VAT rate will be four percent of the total transaction.  The regular VAT rate will be applicable for others. Only the enterprises which provide turnover VAT and regular VAT will have to take e-BIN.
The VAT return submission has been made easy and now we ask the NBR to introduce VAT literacy and easy payment methods. The people should be able to trust public servants. The government helped the looters of public money.

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