60pc VAT payers file returns through online


DHAKA, Nov 11, 2020 (BSS) – At least 60 percent VAT (value added
tax) payers are submitting their files through online, thanks to the
National Board of Revenue (NBR) for making the process of submission
easier and of international standard.

As per NBR, the number of online VAT return submissions has
increased from 8,000 to 10,000 per month amid the Covid-19 pandemic.

In September, the number of return submissions stood at 6,146, which
is about 60 percent of the total VAT payers.

The VAT administration expects that as the number of online return
submissions increases, all VAT payers will be in the process of filing
returns through online by the end of the current fiscal.

Talking to BSS, Project Director of the VAT Online project Kazi
Mostafizur Rahman said that the online return submission has been
increasing as the VAT return process has made easier.

He said the number of online return submissions in October last
year was only 22,732, which stood at 68,146 in September this year.
Last July, the number was 50,300, he added.

At present, the number of VAT registered companies is 2.14 lakh.
However, many of these organizations have multiple registrations.

Mostafizur Rahman said, “We will cancel the organizations which
have more than one registration.”

He thought that about 30,000 registrations will be canceled.

He said that out of the registered organizations, one lakh
organizations currently submit returns. Of which 66 thousand submitted
through online, he added.

Cumilla and Jessore Commissionerates are ahead in the number of
online return submissions. Ninety percent VAT payers of these two
commissionerates are filing their returns online.