VAT online project under NBR needs to be reviewed: Nojibur

At least seven core issues should be reviewed through effective initiatives to ensure a hassle-free and time-befitting VAT online system as per the modern Tax management, reports BSS.
The issues include tax payers’ communication, keeping proper accounts, training programme for officials, cyber security, integration with concerned parties, independent verification and free flow of information.
During a discussion over these issues here yesterday, Finance Minister Abul Maal Abdul Muhith provided necessary directions to make the VAT online project more time-befitting and effective for the VAT payers.
After the meeting on the progress of VAT online project at the Institution of Diploma Engineers, Bangladesh, M Nojibur Rahman, chairman of the National Board of Revenue, told the reporters.
The finance minister also asked the NBR to create awareness on online VAT project among the VAT payers that they can easily pay their VAT through online, he said adding,” the VAT payers, especially the business community, have been asked to properly keep their accounting for smooth payment of VAT.”
According to the NBR chairman, Muhith also asked the NBR officials to work in a transparent way with integrity for ensuring a hassle-free tax and VAT paying system.Mahbub Ahmed, senior secretary, Finance Division, Ministry of Finance, urged for a strong alert to ensure cyber security for the sake of the meaningful use of the country’s digitization process.
The VAT online project under NBR will offer a set of e-services including VAT e-calculation, e-appeal, e-tax adviser and e-learning with enforcement of the new VAT and supplementary duty act from the first day of the next fiscal year 2016-17.

VAT online project under NBR needs to be reviewed: Nojibur

At least seven core issues should be reviewed through effective initiatives to ensure a hassle-free and time-befitting VAT online system as per the modern Tax management, reports BSS. The issues include tax payers communication, keeping proper accounts, training programme for officials, cyber security, integration with concerned parties, independent verification and free flow of information. During a discussion over these issues here yesterday, Finance Minister Abul Maal Abdul Muhith provided necessary directions to make the VAT online project more time-befitting and effective for the VAT payers. After the meeting on the progress of VAT online project at the Institution of Diploma Engineers, Bangladesh, M Nojibur Rahman, chairman of the National Board of Revenue, told the reporters. The finance minister also asked the NBR to create awareness on online VAT project among the VAT payers that they can easily pay their VAT through online, he said adding, the VAT payers, especially the business community, have been asked to properly keep their accounting for smooth payment of VAT. According to the NBR chairman, Muhith also asked the NBR officials to work in a transparent way with integrity for ensuring a hassle-free tax and VAT paying system.Mahbub Ahmed, senior secretary, Finance Division, Ministry of Finance, urged for a strong alert to ensure cyber security for the sake of the meaningful use of the countrys digitization process. The VAT online project under NBR will offer a set of e-services including VAT e-calculation, e-appeal, e-tax adviser and e-learning with enforcement of the new VAT and supplementary duty act from the first day of the next fiscal year 2016-17.