NBR gives work-order to Vietnamese co

The National Board of Revenue (NBR) has awarded work-order to a Vietnamese company - FPT Information System Corporation - for supplying and setting up hardware, software and network to introduce an online VAT system.

NBR signed a deal with the company on Wednesday for setting up the Integrated VAT Administration System (IVAS) in line with Public Procurement Rules (PPR).

Earlier, NBR invited international tender for selecting a capable company for the online VAT project.

Project director Md Razaul Hassan and FPT chief executive officer (CEO) and public finance director Tran Phong Lam signed the agreement on behalf of their respective organisations.

Vietnamese ambassador Nguyen Quang Thuc, and NBR chairman Nojibur Rahman attended the signing ceremony, among others.

The government aims to issue online VAT registration number from January 2016 using IVAS. It has also targeted to operate online VAT-related activities from July 1 next year, following introduction of new VAT law.

NBR is procuring IVAS software to make the VAT system fully-automated. All the VAT offices will come under a network through the system.

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