NBR unveils automated online VAT refund system

The National Board of Revenue (NBR) on Wednesday launched an automated online Value- Added Tax (VAT) refund system, allowing refunds to be transferred directly in taxpayers' bank accounts, a move considered ending long-standing delays and harassment in the refund process, reports BSS.

NBR Chairman Md Abdur Rahman Khan formally inaugurated the system by transferring Tk 4.59 million (45.35 lakh) in VAT refunds to the bank accounts of three taxpayers from three Dhaka-based VAT commissionerates through the electronic platform.

Speaking at the launching event at the NBR conference room at its revenue Bhaban in the capital's Agargaon, the NBR chairman said the authority initially replicated the existing manual refund procedure into an electronic format to ensure continuity, with plans to further simplify the process through legal and regulatory amendments if needed.

"We have first taken the existing manual process and converted it into an electronic system. Once the system runs fully, we will review whether the process needs further simplification. If necessary, we will amend the law and rules," he said.

Abdur Rahman Khan said a key reform would be setting clear the legally-defined timelines for each stage of refund processing.