Online VAT registration begins

Online VAT registration under the new Value Added Tax (VAT) law has begun and businesspeople will be able to take electronic business identification number (e-BIN) online up to June 30, reports BSS.
"Online VAT registration began after 12 O'clock Tuesday night. The online VAT registration software has been installed in such a way that activities of the business entities which will not take online registration by June 30 will automatically be shut down," said deputy director of the online VAT project of NBR Zakir Hossain.
Business activities of those organisations which will fail to be registered online will be shut down automatically on July 1. The business establishments having annual turnover below Tk 30 lakh do not need to be registered online. Businesspeople can easily take e-BIN by visiting the web site 'Vat.gov.bd', said National Board of Revenue (NBR).  Finance Minister AHM Muhith will formally inaugurate the online VAT registration on March 23. "We have requested the business establishments to take online VAT registration because the new VAT law will be effective from July 1 and business establishments will have to submit returns, pay tax and carry out other business related activities online," said Zakir Hossain.

Online VAT registration begins

Online VAT registration under the new Value Added Tax (VAT) law has begun and businesspeople will be able to take electronic business identification number (e-BIN) online up to June 30, reports BSS. Online VAT registration began after 12 Oclock Tuesday night. The online VAT registration software has been installed in such a way that activities of the business entities which will not take online registration by June 30 will automatically be shut down, said deputy director of the online VAT project of NBR Zakir Hossain. Business activities of those organisations which will fail to be registered online will be shut down automatically on July 1. The business establishments having annual turnover below Tk 30 lakh do not need to be registered online. Businesspeople can easily take e-BIN by visiting the web site Vat.gov.bd, said National Board of Revenue (NBR). Finance Minister AHM Muhith will formally inaugurate the online VAT registration on March 23. We have requested the business establishments to take online VAT registration because the new VAT law will be effective from July 1 and business establishments will have to submit returns, pay tax and carry out other business related activities online, said Zakir Hossain.