NBR to launch VAT e-payment July 16

The National Board of Revenue (NBR) is going to introduce e-payment system for the VAT-payers on July 16 (Thursday) to facilitate VAT payment from anywhere.
Initially, people having accounts in three banks can make the e-payment. However, the facility will be extended later in phases.
Talking to the FE on Monday, VAT Online Project (VOP) Director Kazi Mustafizur Rahman said clients of three banks will be able to pay VAT online using e-payment module of VOP from July 16.
"The banks are - HSBC, Midland and Prime. We are trying to get approval to include three more banks (in the system) soon."
Account-holders will be able to pay their VAT through the e-payment module, he added.
However, e-payment of VAT will not be possible through credit card, as furnishing business identification number (BIN) and account code will be required for payment of VAT.
Development of the e-payment module is one of the major components of VOP, jointly funded by the World Bank and Bangladesh government.
He further said the e-payment is a milestone of successful implementation of the new online-based VAT law, which came into effect from July 01, 2019.
Using the e-payment system, any VAT-registered person will be able to pay VAT, supplementary duty and other such taxes to the public exchequer from their bank accounts within a short time.
VOP has prepared the e-payment module. Its user acceptance test with three banks has been satisfactorily conducted.
The inauguration ceremony of the e-payment module was organised on July 16 with the government high-ups.

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