‘Online VAT collection system to help increase revenue collection’

FE Report | Published: April 21, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

Speakers at a seminar on Monday expressed the hope that introduction of online based VAT collection system would be business-friendly.
It would also help increase revenue collection, they said at a seminar organised by Customs, Excise and VAT Commissionerate, Dhaka (South) to motivate the taxpayers on implementation of value added tax (VAT) and Supplementary Duty Act-2012".
Kalipada Halder, member (taxes appellate and release) of the National Board of Revenue (NBR) and Md Helal Uddin, vice president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), spoke at the seminar as the chief guest and the special guest respectively.
Commissioner of Customs, Excise and VAT Commissionerate, Dhaka (South) Ismail Hossain Sirazi presided over the seminar while additional commissioner Abdul Hakim presented a keynote paper at the programme.
"Manual assessment of VAT and its collection would, to some extent, create ambiguity. But implementation of online based new act would be user-friendly and ensure transparency in collection of the same," Mr Halder said.
"After implementation of the new act, people would be able to enrol the names of their organisations sitting at home and also be facilitated to submit returns and making payments."
"Online based VAT collection system would lessen more than 80 per cent of hassles that taxpayers undergo under existing system," he added.
Helal Uddin urged the government to increase the package of VAT- free limit up to Tk 4.0 million as against Tk 3.0 million as provided for in the new act.
He praised the authorities for their initiative to introduce new online based VAT collection system and said businessmen would be familiar with the system within a short period as it has been developed to serve the taxpayers.
Besides, online payment of VAT instead of the existing treasury chalan system, receiving refund online and provision of paying taxes from any corner of the globe have been incorporated in the new act.
If anyone fails to submit return online, he/she would be able to do that manually, the new act stated.
The government in 2012 enacted the new law with a view to ensuring transparency and accountability in revenue collection. Following request from the business community, the NBR got authority to bring some changes in the act which will take effect from January 2016.
As per the NBR plans, all the business houses would be connected with a central server set up in its head office and the businessmen would be compelled to provide information about their business activities regularly.
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