High-powered body to reform VAT system

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Doulot Akter Mala
The government has taken a move to reform and modernise Value Added Tax (VAT) policy, laws and rules aiming to make it easier and people-friendly.
The National Board of Revenue (NBR) Tuesday formed a high-powered consultative committee that would conduct a detailed scrutiny of all the VAT related orders, circulars and laws.
The five-member committee will make recommendations to resolve all the inconsistencies in enforcement of VAT laws and clarify complex rules.
The committee, headed by Md. Adul Kafi, commissioner of customs, excise and VAT commissionarate (Dhaka south), will review all the requests and pleas of business organisations and VAT payers relating to simplification of VAT rules.
"The board has formed the committee to reform VAT system in light of the present context. VAT law was framed in 1991 and ever since the country's socio-economic perspective has changed a lot," said a senior VAT official.
The committee will resolve problems of taxpayers in a case-to-case basis, which the board will forward for its scrutiny, he said.